Big thanks to Lilac for the heads up. There is speculation in the market that the SNB could be about to intervene in USD/CHF and maybe EUR/CHF.
Apparently the SNB has been buying US government bonds yesterday and again today. Whilst this activity could be just regular asset managment operations, the market is taking note of it because the Swiss central bank has done the same just ahead of previous currency interventions.
Maybe much to do about nothing and just coincidence, but certainly worth noting. Certainly the market is paying attention.
