Into European trading and Swiss dealers looked to the Yen for direction. Offers in USD/CHF into 1.2375 capped the early moves on the topside before the pair spiked down to 1.2340 as the Roth comments emerged. Bids into the 55-Day M/A line propped and spot soon rebounded. With the dip corrected the USD has looked supported intraday with sales into the 1.2380's then limiting a run towards 1.2390/2400.
CHF/JPY attempted to break below 97.00 in the JPY move higher but bids at 96.85 propped and the cross has since rebounded and is looking to break higher with 97.60/65 now eyed. Offers in EUR/CHF at 1.6275 continue to cap but bulls keep the 1.6300 option barriers as a short-term bull target.
Elsewhere, GBP/CHF hit 2.4211 as trading broke higher ahead of the BoE MPC but profit taking and the 7-2 vote soon cemented the pullback. Bids into 2.4245/50 propped for a period but further Sterling weakness has weighed. Looking ahead, US CPI data (due at 13:30 GMT) will give USD/CHF a longer-term bias with a break above 1.24 putting a renewed bull-bias on the charts. Economists look for +0.1% M/M with the core seen at +0.2% M/M.
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