Since the onset of the credit crunch in 2007, the currency has been in much demand, and the euro has fallen to lifetime lows against the franc.

With 63% of Swiss exports headed to the European Union, the SNB has particularly targeted the EURCHF exchange rate, aiming to preserve the 1.50 as the line in the sand.

EURUSD has since hit highs of 1.4967, AUDUSD looks to have broken upwards from its rising wedge to 0.9225, and USDCHF continues its march towards parity (1.0120 currently).