The Swiss press highlighted a report on the SNB aiming for a soft 1.05-1.10 band for EUR/CHF and that boosted the pair early in the week. Last week the yen was the top performer while the Canadian dollar lagged. CFTC data showed fewer yen shorts. China's manuf PMI hut 2 1/2 year low. Although Thursday's Premium short in USDJPY with entry at 118.50-118.80 missed the 118.50 fill by 1 point, sveeral clients opted for the manual fill and opened the trade themselves. The trade is now 1150 pips in the money. NZDCAD remains in progress.
The Swiss Tages Anzeiger referred to “a well-informed source” on the SNB willing to lose 10 billion francs to maintain a 1.05-1.10 corridor. The report isn't definitive and is equal parts speculation and sources but it lifted EUR/CHF nearly a full point higher to 1.0500 before it trimmed a quarter-cent.