Lagarde or laggard?

I went short on the morning of the SNB’s 50bp rate hike…no, I was not expecting a hike, purely technical. As you can see, we have held the blue vwap (hike), excluding one false break. Current target is bottom of current zone (0.97768).

Truth is, amidst the global macroeconomic backdrop and brewing EZ energy crisis, a hawkish SNB is the icing.