EURCHF trading/news update

19:30 EUR/CHF: Swiss Gets Default Nod in Nervous Market New York, September
1st. With the notable exceptions of the USD and JPY, the CHF has been a strong
performer today in the midst of substantial stock market selling and other
indications of risk reduction across asset classes. EUR/CHF is thus far holding
to tight ranges and above the Aug 21 swing low and 200-day MA by 1.5135; last at
1.5154. With Swiss PMI beating EUR PMI today and, as a result, perhaps less
concern by the SNB about the CHF"s strength at this point, there could be scope
for a modest extension to the downside, but it is not clear the SNB will allow
the pairing too much room on the downside until Swiss CPI begins to trend higher
again. It would seem reasonable to assume they will defend 1.5000 should it come
into play again soon.
On the topside, offers remain at 1.5185, with more offers in the 1.5215-20
and 45 vicinities.