We saw some pre-emptive measures from the SNB last week as I higlighted here
We've seen little from them since the ECB to suggest any further activity but now traders are citing the SNB as "smoothing " once again as the euro continues to look undermined this morning.
USDCHF has posted 0.9830 from 0.9780 and EURCHF 1.0830 from 1.0780, against the general euro-negative sentiment elsewhere
Eamonn reported that SNB's Zurbruegg was out at the week-end saying he expects the CHF to weaken further repeating the usual mantra but now it appears the central bank are backing up their rhetoric again
Currently edging up further as I type to 0.9834 and 1.0835. Immediate offers between 0.9850-60 and 1.0850-60. Expect good support now between 1.0780-1.0800
The SNB Smoothers back again
