USD/CHF has slipped back into a 1.1920-35 sideways chop, as US traders continue to look for rallies or breaks, but are reluctant to be short at these levels. Tech traders looking for a sub-1.1900 close remain sidelined, and traders say that customer interest today is light.
Once again the crosses continue to underpin the unit, with CHF/JPY and GBP/CHF featuring early in the session. CHF/JPY is currently trading at 96.37, just below the session high of 96.40, and talk of 96.50 exotic option barriers. GBP/CHF remains under pressure, having slid from a NY session high 2.3535 to 2.3480, however UK names have been seen lifting offers over the past hour, paring back some opportunistic intra-day shorts, the pair currently trades at 2.3505. EUR/CHF has been a relentless grind lower throughout the entire day, starting in early European trade, and continuing through the US session.
EUR/CHF has traded down to a low of 1.5870, and once again European houses were seen bidding them back in near the lows, and have ratcheted the pair back up to 1.5883. US traders seem reluctant to make the move here, looking to follow rather than leas, as the current 1.19 handle fails to impress, USD/CHF trades at 1.1935 currently.
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