SNB update 2

Following up on the previous post on SNB and its peg.

Wont say much but just quoting a piece from a WSJ article,

As one trader put it, the EUR/CHF cross seems to sum up what is wrong with foreign-exchange trading these days.
The cross goes nowhere, so it isn’t worth the cost of capital to put on a trade in lieu of something else. This is all because the Swiss National Bank , in an attempt to weaken its currency against the euro, has instituted a floor of CHF1.2000. Though that is far above what the current anti-euro mood would suggest as fair value, the market doesn’t dare challenge the SNB edict, so the pair simply stagnates just above CHF1.2000 and has all but ceased to trade.

Here is the complete article.