USD/CHF has seen a pretty good bounce, presently up at 1.1515 having earlier posted a session low down at 1.1432. The swissy remains inherently weak across the board today, the EUR/CHF cross back up at 1.4720 having opened up in Europe down around 1.4620, while GBP/CHF is up at 1.5970 from an early 1.5870. Earlier we had reports of good GBP/CHF buying from “swiss names.”
The proximity of Thursdays SNB rate decision won’t be helping. The feeling is that the Swiss central bank will most likely trim rates 25 bps and might well signal quantitative easing of some sort or another.
