Talk of some reasonable bids now down at 1.2370 and the Asian lows around 1.2345. Below here is tech suppport at the 14 and 50 day MA currently coming in at 1.2332 and 1.2298
Comments over the weekend from UBS’s chief economist forecasting a SNB peg hike to 1.25 and even 1.30 over the next few months appears to be doing the trick in the short term. with 1.2434/45 nearby tech resistance.
We’ve been up to 1.2400 this morning with focus now on the Swiss November CPI release tomorrow following the outcome of the Merkel/Sarkozy lunch.
EUR/CHF’s at 1.2383