Traders report the SNB has been more aggressive today than they have been in their more-tepid recent forays into the market. EUR/CHF is consolidating gains a centime above the 1.5075 level from where the rally began after reaching a high of 1.5240. We now consolidate just below the 1.5200 level.One way the SNB flexed its muscles today was by dealing directly with banks rather than dealing through trading portals. That way word was sure to get into the street, which obviously was their intention.
Elsewhere, markets trade nervously awaiting Chicago PMI data and the month-end fixing at 13:45 and 15:00 GMT respectively.
