CHF pairs still flying high as semi official buying is noted

You know who will be put in the frame

Another lift in Swiss pairs is backed by chat that semi official buying is going on.

The Swiss government was also out with some comments on too big to fail banks and are looking at reducing the tax burden on certain financial instruments and they have tasked the finance ministry with preparing a draft consultation.

EURCHF has just topped out at 1.0903 and trade 1.0878 and USDCHF hit a high of 0.9755 and trade 0.9729 now. Mike noted that the SNB may have been sniffing around too with the euro in broad retreat today.