Traders report talk of SNB bids around the 0.9400 level in USD/CHF if we get there….
If they get any USD/CHF, I would not be surprised to hear of them selling EUR/USD on rallies, to leg out of some of their massive EUR/CHF long position…
Looks like risk aversion is the play of the day as oil jumps and Treasury yields drop…Fears of a Suez Canal closure are the driving theme at the moment.
EUR/CHF is down below 1.2900 at writing.
