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Is up against all majors

USD
  • No surprises, USD is bid across the board, acting as a safe haven currency after Equity plummets.
  • Nonetheless, safe haven Yen is up 0.49% against the Greenback, and the only currency that is up versus the USD in the majors.
  • BUT the Swissy struggles, despite the Risk Off
  • HEADS UP! Is on the EURCHF, after the pair printed a 1.02911 low, now back up to 1.03271 (see chart).
  • This was the lowest print since April 2015, and further downside traction would open to that April low at 1.02344.
  • There has been speculations that the SNB may be intervening circa 1.03000 area, but nothing has really been confirmed.

Chart source: Bloomberg

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