Swiss franc rally after SNB? Not so fast...

Seeing $EURCHF drop to 0.93278 and $CADCHF to 0.57883, I can't help but think the market is playing hide-and-seek with the SNB. We know they won't rush to raise rates, but the interpretation has gone as far as whether they'll start cutting rates. Even though Mr. Jordan strongly stated it's not time yet, the market doesn't seem to listen much. Guess we'll have to wait for inflation figures and the ECB meeting results again.

Personally, I think there might be another bounce back up before we see a clearer direction. I'm also eyeing $CADUSD at 0.72407 because if CAD strengthens, it might make the CHF pair a bit more interesting. It's not that I believe in a rosy scenario, but sometimes the market likes to surprise us where we least expect it.