The Swiss National Bank Is Extremely Stubborn
The Swiss National Bank just released a press release affirming that it will reinforce the 1.20 CHF per euro floor with the utmost determination. The SNB "will not tolerate" an appreciation of the Swiss Franc and "remains prepared to buy foreign currency in unlimited quantities for this purpose." Leave it up to the Swiss to make currency manipulation sound like defending the Alamo.
For more on the Swiss Franc, click here.