It seems to me selling the EUR/CHF cross down here is akin to poking the elder billy goat gruff with a sharp stick. You get it, Alpine meadows, goat herds….(Ok I know it’s a Norwegian kiddies’ story, but what the heck, we all know what happened to the troll under the bridge. ) Yes that’s right, he got gored and pushed into the river.

A fair few folk still feel SNB will turn up and intervene on a move to/through 1.5000.

The EUR/CHF cross sits at 1.5040, down slightly from where we opened up in Europe, swissy continuing to benefit from the heightened risk aversion.

An added note of caution might be a good idea this afternoon, with SNB’s Roth scheduled to speak at the Swiss Real Estate Institute in Zurich at 15:00 GMT today.

Next technical support of note is down at 1.5010/15.