Sharp rallies in CHF pairs this morning puts the SNB in the frame 30 Nov
USDCHF from 1.0130 to 1.0159 and EURCHF from 1.0770 to 1.0800 in a rush but sellers lurking as I pointed out in my earlier post. The CB may be have prompted by fears of euro weakness after this Sunday's Italian referendum
USDCHF back down to 1.0125 on a fresh wave of EUR buying as markets digest the latest reports from the OPEC meeting underway in Vienna.
Optimistic tones for a deal have lent themselves to a risk-on sentiment that has seen the yen weaken amidst general USD selling, accelerated by month-end flows.
GBPUSD testing 1.2500 helped by GBPJPY demand, EURUSD once again testing option-related resistance around 1.0660
Good two-way business but it's all understandably scrappy with many factors in play and caution is advised.
