The Swiss franc has been driven up to absurd levels by a safe haven bid. It is about to suffer a fate similar to its safe haven cousin in the metals market, gold, which plunged an incredible 11% in two days. This is the next “short gold” trade. If the barbarous relic can fall that far, that fast, so can the Swiss franc.
The Swiss National Bank has undertaken massive efforts to weaken its hopelessly overvalued currency before it completely wrecks the country’s economy. I love Swiss chocolate, especially Toblerone, but it’s not that good. $20 for a cup of coffee?