Well that I think caught quite a few people by surprise. The more than 15% drop against the Euro probably didn’t do many people any favours. But that opens up the next question, where is EUR/SFR headed to now? new lows or rebound next?
Such a sharp drop should give rise to a technical rebound, but then again usually when central banks scrap price restrictions on their exchange rate the new levels achieved stick around for a long time. However I see support at 1.0068, which is EUR/SFR all time low in August 2011.