Mirkov, Nikola; Pozdeev, Igor; Söderlind, Paul - 2016
We ask whether the markets expected the Swiss National Bank (SNB) to discontinue the 1.20 cap on the Swiss franc … against the euro in January 2015. In the runup to the SNB announcement, neither options on the euro/Swiss franc nor FX … the period of cap enforcement increased the credibility of the cap by reducing the uncertainty of future euro/Swiss franc …