Both, the BOJ and the SNB have expressed their concern on the on-sided movements of their currencies (JPY and CHF respectively). Both of them are strong and these are the main reason why I think both of them are appreciating:
CHF: the CHF is being used as a reserve currency (debt crisis on some European countries, growth conditions, and others).
JPY: I have no clue, I don’t see a fundamental reason, but hey, the market is the market and if it’s appreciating it’s because the demand is increasing (from China perhaps?)
But which one do you think is stronger?
Answer: LOOK AT YOUR CHARTS… I’m kidding :)
Take a look at this chart:
Over time, looks like the CHF is stronger than the JPY, there is just small retracement after the SNB expressed their concern.
Follow me on Facebook
BOJ, CHFJPY Analysis, intervention, SNB