The demand for swiss francs this morning is due to measures taken by the govt/SNB to take the heat out of the housing market.
Govt statement says the sustained growth in mortgage lending and residential property prices poses
a considerable risk for the stable development of the economy and thus for the stability of the banking sector
Tighter liquidity conditions envisaged as capital buffers for banks are hiked from 1% to 2%. The buffers were first imposed in Feb 2013
Bids at 0.9080 now history and next support comes in around 0.9050 where we’ve just tested. The USDCHF selling helping to trigger USD selling elsewhere earlier
EURCHF testing suppport around 1.2315