UBS thinks “SNB speculation is unfounded”

from UBS’ Spot Desk:

USDCHF and EURCHF are inching higher on speculation of SNB intervention, which we think has no basis. Dips however remain shallow. Greece remains in focus today; further downside in EURUSD will likely push USDCHF higher. EURCHF is supported at 1.0730/ 1.0690 / 1.0650. The resistance at 1.10 is more psychological than technical and seems far away.

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