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Drifts lower against most majors

EUR
  • 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

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