CHF: Doesn’t seem to want to fall!

  • The fall in Gold led me to expect another sell-off in the CHF but this hasn’t eventuated.
  • EUR/CHF has a base in place from the SNB but is unable to sustain any rally, and this also despite big leads from pairs like EUR/JPY.
  • Market chatter suggests that global asset managers are super-long of Swiss assets but if they are they don’t seem to be in any rush to sell.
  • I’m still long of USD/CHF and will stick with it for another while but my patience is being seriously tested 🙁

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