Heavy Swiss buying of EUR

One of the big Swiss banks has been a heavy buyer of EUR/USD in the last few minutes, taking EUR/USD back toward 1.2880 session highs.

Traders surmise the buying is part of more short-covering in EUR/AUD as AUD/USD falls back below the 0.8800 level.

The macro heavyweights are turning around the battleship, boys. Don’t get in the way…