Eur/Chf

It seems that some of the market rumours may be true. The SNB was said to intervene on the markets, with a huge "buy" order of the shared currency. 

What's more, we are hearing lots of recommendations for long USD/CHF positions as EUR/CHF remains a long way above the lows and the better bid tone to the USD is surviving if not necessarily against the EUR. In addition, negative rates in Switzerland have also a negative impact on the Swiss Franc.

However, we stick to our view that USDCHF is a better bid, but we we'd rather wait and buy the pair on the dips.

eurchf