We are seeing some strong buying of USD/CHF as the European session unfolds and it may have something to do with the change in recommendation from Morgan Stanley.
They have issued a note to customers, changing their USD/CHF strategy to bullish post-FOMC. The rebound in the USD is expected to gather strength and the reduction in the SNB inflation forecast makes USD/CHF a good play.
Short-term target is at .8975 with medium-term focus now on .9150.