Apologies for the lack of coverage this morning but i had commitments and Gerry’s got the day off.

Doesn’t look like a whole lot’s going on as market waits for headlines.

The marginally weaker Swiss CPI has had little impact but does seem to back up SNB’s belief that the cap is necessary and wouldn’t be surprised to see some comments emerge from the Swiss authorities if we start heading lower again.

EUR/USD’s looking rather rangey, and have heard from some sources that an ACB may be sitting on the bid under 1.3250 but i can’t confirm this from my usual bank sources.

On the order front i’ll try and knock up an order board shortly, but in the meantime there’s talk of stops down through 1.3230 with bids infront around 1.3235/40. Offers are up at 1.3290/00 and there are expiries at 1.3300.