Session lows for EUR/CHF, talk SNB sells
Traders report vague talk of the SNB selling EUR/CHF today. This is the first tiem we’ve heard talk of sales in the cross as most of their activity has been via the “legs” up to now, selling EUR/USD and selling USD/CHF, opportunistically.
There were also rumors of an SNB rate hike in September making the rounds today, which helped strengthen the franc, so make of it what you will.
EUR/CHF trades now around the 1.3620 level. I’d continue to suggest avoiding EUR/CHF like the plague.