EURCHF rallies with SNB in the frame once again

Author: Mike Paterson | Category: Central Banks

General euro demand this morning with EURCHF making strong gains 21 Nov

Better bond performances are helping the euro sentiment but with USDCHF underpinned and EURCHF making decent advances to 1.0740 from 1.0700 there's understandable talk of the SNB back in to give the move some added momentum and I'd support that view.

1.0700 the line in the sand again it appears although it's had a little wobble lower in recent sessions.

USDCHF currently 1.0092 and holding 1.0080 despite EURUSD rallying strongly another tell-tale sign the SNB are propping up the pair, their preferred method of intervention as I've highlighted a few times here.

Offers on all three pairs should limit further advances for the time being.

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