Even EUR/CHF us seeing some short-covering this morning. The market has been leaning against SNB bids for days in the 1.4000 region and seems to finally be relenting as risk aversion eases for the time being. The cross trades now in the 1.4030s after stalling a few times ahead of 1.4050. A move through 1.4070 will get the shorts excited and should prompt some more significant follow-through.