FTSE down 0.75%; DAX off 1.2%, CAC 40 off 1.28% Oil off around three quarters of a buck. Gold at session low 1,314.50. US treasury yields lower. All signs of a pick up in risk aversion.

Against this backdrop swissy’s safe haven premium has come into play this morning, EUR/CHF down at 1.3310 from early 1.3450.