We saw an early spike higher in Asia following the announcement that major custodials (State Street , BNY Mellon) were to charge depositors (State Street-0.25%) for Swiss francs which pushed the cross to highs of 1.2144.
The move’s being slowly unwound with the cross back around 1.2125. Bids are seen in the 1.2110/20 area and 1.2090/00