EUR/CHF has caught a bid over the past hour or so, presently up at 1.5385. There are still no signs of the SNB, but sources report “overlay managers” selling swissy. They are long-term players who manage currencies for asset managers and corporations. As one source put it “they tend to act infrequently, but when they do its decisively.” Still much talk of EUR/CHF testing 1.5500 in very near future.