Traders reported very strong buying in EUR/CHF earlier in the session but despite that buying the pair has worked lower over about the last hour. Similar story for USD/CHF which made a run for stops above 0.8910 but failed to trigger them and has since slumped along with the cross.

The best I can make of renewed CHF demand is risk aversion remains at the forefront among investors.

1.2550 is next support for the cross which is now at 1.2570. 0.8845 is support in USD/CHF.

Same story for USD/JPY and EUR/JPY…