I missed most of the “fun” last week as USD/CHF thrashed about in some of the biggest ranges seen in years. But the pair ain’t much more liquid this week from what I hear, with market-makers very reluctant to provide liquidity that they cannot find themselves.
Looks like we say one those bouts of illiquidity a short while ago as USD/CHF popped from 0.7790 to 0.7850 as Europe squared up for the day. Since then we’ve died again, just at a higher plateau. Not a lot of fun to be the banker, in this environment….