There’s been a lot of swiss buying all across the board this morning, but GBP/CHF looks possibly the best bet at the moment. There is talk that tomorrow’s Q2 UK GDP number could come in as low as -0.2% q/q against general consensus of +0.2%.
Corporate have apparently been the main sellers of cable this morning, which allied to the USD/CHF hitting new lows, has bashed the cross down from 1.3250 to 1.3059.
All time low was 1.3054 on July 13th, but it’s bounced since to 1.3110.
Guess well find out tomorrow…….
