Hitting a new low this week of 1.1545 and is down over 300 pips on the day. The moved largely initiated by a major swiss name earlier apparently in conjunction with a hedge fund.
Comments from the Swiss Econ Min over the last hour hardly helping matters, after the govt aid package came up short of original estimates..
The market was looking for a package of around CHF2 billion and got CHF870 mio; the govt also poured salt on the wounds stating that there was no specific target for the currency.
Low on the USD/CHF has been 0.7993, before a bounce back to 0.8040
