EUR/CHF is on the move, trading lower as the the euro sees across the board losses. The euro is being underminned by Steinbruecks’ earlier comment that the euro would be threatened if the Stability and Growth Pact were not taken seriously, and by ongoing speculation that the ECB will soon move to quantitative easing.
EUR/CHF is presently down at 1.5215 from around 1.5265 at the European opening. We’re fast approaching the 1.5180/00 area, where some feel the SNB will come in again. Will be interesting to see whether there is still the evident caution below 1.5200.
