Archived IMT (2009.11.16)

EURCHF DRIFTING BEYOND INTERVENTION territory of 1.51, now at 1.5082. The Swiss National Bank has intervened at 4 times near 1.51 this year in order to to stabilize excessive CHF strength. The pair did touch 1.5080s at about 4 occasions over the last 5 weeks but quickly rebounded without actual intervention. It is also possible for SNB to intervene at 1.0020s in USDCHF (currently at 1.0070s)) although the cenbank targets EURCHF rather than USDCHF. USDJPY eyes 89.10s.