Euro/Swiss Franc
This is a tricky pair for many reasons. Both the Swiss National Bank (SNB) and european Central Bank (ECB) have huge interests in this pair, but both have interests in opposing configurations. The Swiss want Swiss franc/euro to rise while the ECB want euro/Swiss franc to rise. Both markets pull against each other and that continues in U.S. markets.
One reason is the DAX rises on yields while the SMI stock index that trades on the SIX Swiss Exchange is tied to Confederate bonds and both are tied to economic performance. This equation seems quite simple but it will not work in every instance with this pair.
It's not the euro side that's complicated but rather the Swiss franc side. So it's important to view Confederate and Bund ...
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