SNB comments this morning

The Swiss National Bank released their quarterly report this morning. I haven't made it through the entire document yet but here is one key statement, "It will take firm action to prevent an appreciation of the Swiss franc against the euro." This report is as of mid-June when the EURCHF was somewhere between 1.5200 and 1.5050, so that doesn't necessarily mean that they will take action at this level. I will continue to review the document and post about what I find relevant or interesting.