Forex Market Update: EUR/CHF Holds Range Ahead of SNB Rate Decision Next Week

EUR/CHF traded below 1.5100 on Thursday and spent some time around 1.5090-95 during the Asian session. European account offers have been a feature of EUR/CHF rallies, which eventually saw good 1.5100-10 bids flushed out on Thursday and stops below. Volatility in the dollar legs have not really helped the cross and early action has only seen limited upside in EUR/CHF. USD/CHF is currently trading around 1.0730, which is moderately higher compared with Thursday's 1.0648 lows. Next week's SNB meeting may temper further swissy gains, with currency intervention rhetoric likely to feature. The Libor target rate is expected to remain unchanged, but the SNB should maintain its commitment to non standard measures, like bond purchases.

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