AUTOREFRESH 
CHF/JPY buying noted in early Tokyo trade
By Sean Lee || January 10, 2012 at 00:25 GMT
|| 6 comments || Add comment
Some talk of decent interest to sell the Yen across the board at the Tokyo Fix, which happens in about 30 minutes. The usual scenario on big fixing days, is that the banks buy USD/JPY, EUR/JPY, CHF/JPY etc and drive the price higher into the Fix, thereby executing the customer orders at the highest possible level. Then once the demand has waned, prices slip back soon thereafter.
Keep an eye on EUR/CHF as well, it’s inching lower towards 1.2100 again.
Sean, can you remind me when the next meeting of the SNB takes place?
I believe they are due to meet later today Matthew
Yes, indeed but this is a special meeting to appoint the new president I believe; I don’t think anything interesting will come out of this. I meant the next “regular” meeting.
You refer to “big fixing days” here. I’ve only heard of daily fixes, where can I find more information on which days could be considered big fixing days. Thanks!
In Japan, days that are divisible by 5 tend to have heavier fixing flows than others. Globally, month-ends tend to have lots of fixing activity.
Awesome, thanks!