I suggested in my last post that the SNB could be hoovering some EURUSD and so it seems, with talk on the street now that they’re buying to drive EURCHF higher
Post- SNB rebound went to 1.0651 and that area has been a target for a while as I’ve highlighted, and we should expect a break to trigger accelerated gains. Just seen 1.0633. Currently still 1.0617
USDCHF also higher at 0.9285 but approaching good tech res/offers into 0.9300
EURCHF has little liquidity in its own right so it’s only natural that the SNB, or indeed anyone, should use the two core pairs to get their amounts done
Earlier I reported the latest musings from the Swiss govt dept SECO and I raised the question of whether the comments gave credence to a basket-style cap for the franc.. Seems as though it does.
