In the months that the SNB has been active in EUR/CHG, there have been very few reports of standing orders in the market; usually they have just come in and bough the cross and USD/CHF when it suited. Today we hear a shift in strategy with reports of bids from the SNB or BIS (take your pick) in the 1.5255/65 region.
EUR/CHF trades now at 1.5280, having been as high as 1.5328 today.
