EUR/CHF is down at 1.4835 from an early 1.4865, the swissy bulls happy to probe for signs of meaningful SNB interest. Many are voicing surprise at the lack of interest being show by the Swiss National Bank to curtail the recent burgeoning swissy strength.
There is talk of 1.4800 barrier option interest. If we move lower from present levels we could well see some protection of said level. Also it should be noted that some feel 1.4800 could possibly be the line in the sand the SNB has drawn.
Given the extremely illiquid market conditions, one can only imagine the impact a bout of SNB/BIS intervention would have.
