Thanks Goose for the reminder that the SNB released figures on its FX reserves holdings and these showed a marked increase in GBP holdings. This has been a constant theme over the last few weeks/months, the SNB buys EUR/CHF in the marketplace and then uses the BIS to offload some of the extra EUR by selling EUR/USD, EUR/GBP, EUR/JPY, EUR/CAD, EUR/AUD etc.