Not a trader certainly not forex but the blood was in the water the day the Swiss decided to peg. Certainly they had their reasons - to keep the franc from beco

Not a trader certainly not forex but the blood was in the water the day the Swiss decided to peg. Certainly they had their reasons - to keep the franc from becoming too strong - but as other commenters have already explained pegs are too difficult to defend and in this case, the EU was nowhere near a consensus on monetary policy. I like the "picking up pennies in front of a steamroller" analogy it fits the situation perfectly.