Selling into strength ahead of the North American open is preferred and London players note the 1.2585/90 & 1.2600/05 areas as offering value depending on your approach to risk aversion. Bids into 1.2560/65 will prop stabs at the downside into early NorAm trading with bears said to be targeting 1.2550 as a dynamic target before looking to exit existing shorts.
Against the Euro, the Franc has attempted to rally on the day but bids in the cross into 1.5915 have limited further EUR/CHF stabs lower. Support at 1.5900 is the ultimate goal for further Swissie strength but with the Dollar very much the central story today it is unlikely that the price will head for this level unless ECB speakers contradict the early Trichet comments and signal no further ECB rate tightening.
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