Free Trial

Drifts lower against most majors

  • EUR remains under pressure in G10, and most majors, albeit in the green versus the Yen in G10, by just 0.08%.
  • Most interesting chart is once again the Swissy, and where is the SNB?
  • Some desk still expect the SNB to limit the CHF strengthening against the EUR, with some suggesting the SNB allowed some of the latest CHF rally on the back of higher inflation, but most market participants will be aware that further strength will likely get the SNB on notice.
  • Support in EURCHF is at 1.03742, the lowest level printed since April 2015.
  • A clear break through the latter opens to 24/04/15 low at 1.02344.
  • Further out, most will look at parity.

Chart source: Bloomberg

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.