> The Swiss franc is currently pegged 1:1 with USD, having ditched Euro peg almost 5 years ago.
It's not.
It's not.
Use whatever word you want to quickly convey that thought to a broad population
“Peg” also does that.
Over the last four years the EUR has moved in the range 1.06-1.20 CHF (a +/- 6.0% interval around the midpoint). The average rate is 1.117, the standard deviation 0.034 (3.1%).
Even though the exchange with the USD is slightly more stable in this case (it depends on the period and metric chosen) saying that it's pegged is an exaggeration.
By the way, the CHF was not pegged to the EUR either. There was a minimum rate set by the SNB at 1.20 but it floated as high as 1.26 in 2013.
Just before they abandoned the peg as too hard to maintian.
They abandoned the floor more that a year and a half later, in January 2015, when the exchange rate was back at 1.20 despite their efforts to keep CHF appreciation under control.
Thanks for the quantitative response, I just don't find it a productive conversation to what the point was.