SNB in the frame again as EURCHF rallies to 1.0800

Sharp rallies in CHF pairs this morning puts the SNB in the frame 30 Nov

USDCHF from 1.0130 to 1.0159 and EURCHF from 1.0770 to 1.0800 in a rush but sellers lurking as I pointed out in my earlier post. The CB may be have prompted by fears of euro weakness after this Sunday's Italian referendum

USDCHF back down to 1.0125 on a fresh wave of EUR buying as markets digest the latest reports from the OPEC meeting underway in Vienna.

Optimistic tones for a deal have lent themselves to a risk-on sentiment that has seen the yen weaken amidst general USD selling, accelerated by month-end flows.

GBPUSD testing 1.2500 helped by GBPJPY demand, EURUSD once again testing option-related resistance around 1.0660

Good two-way business but it's all understandably scrappy with many factors in play and caution is advised.