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 🙁