Traders note a research piece from UBS saying “don’t count on the SNB” to intervene to weaken the franc, specifically citing the bank’s futile experience trying to stem the tide toward CHF strength back in May/June. CHF strength is the “new normal”, UBS says…
The cross trades at 1.3070, up from 1.3049 lows about an hour ago. 1.3000 barriers remain rumored.
