EUR/CHF, CHF/JPY flows: SNB Schlegel reiterates increased readiness to intervene

June 2, 2026 1:15 PM UTC

While accepting that real appreciate is clearly less than nominal, SNB chairman Schlegel at an event in Bern reiterates again the Bank’s raised readiness to intervene to deal with overvaluation pressure due to the Middle East conflict.
This pits the CHF on the opposite side of the fence to the yen

NOK flows: Usual Monday oil bounce, EUR/NOK sitting on support

May 11, 2026 6:40 AM UTC

EUR/NOK still pressing support area after 'usual' weekend negative comments and oil bounce. More downside scope on spreads.

NOK flows: NOK rallies on Norges Bank rate hike

May 7, 2026 8:21 AM UTC

Norges Bank hikes the policy rateto 4.25%. NOK rallies as market had been split on probability of a hike. Scope for further NOK gains medium term

USD flows: USD lower on Greenland

January 19, 2026 8:07 AM UTC

Greenland furore underminign equities and weakening the USD. EUR and CHF best performers so far but JPY preferred

EUR, CHF, SEK flows: Few surprises in European data but SEK may have upside against CHF

November 28, 2025 9:29 AM UTC

European data much as expected, but relatively strong Swedish growth suggests some SEK upside risks, while weak Swiss growth may maintain downward pressure on CHF

USD, EUR, AUD, JPY, CHF flows: Mild risk positive tone on Fed, Ukraine

November 24, 2025 7:59 AM UTC

JPY and CHF weaker, EUR firmer. More risk positive tone on Ukraine peace and Fed easing hopes. AUD upside potential

CHF flows: New -post-2015 low in EUR/CHF

November 14, 2025 10:04 AM UTC

EUR/CHF drops below 0.92 for the first time since the 2015 spike

CHF, JPY flows: CHF slips on CPI, JPY awaits equity turn

November 3, 2025 7:41 AM UTC

CHF softer after CPI. JPY still undermined by equity strength

AUD, JPY, CHF flows: Risk positive tone, some JPY resilience

October 27, 2025 7:43 AM UTC

Risk positive tone on talk of US/China deal, JPY gets some support from verbal intervention

USD, JPY flows: Steady to mild risk positive tone

October 20, 2025 6:45 AM UTC

Mildly more risk positive picture, but uncertainty remains. Likely Takaichi PM appointment offset by some BoJ hawkishness

USD, JPY, CHF flows: USD lower versus safe havens on risk negative trade

October 17, 2025 7:01 AM UTC

US banking concerns trigger USD declines, especially against safe havens. JPY has scope for further gains.

USD, EUR flows: EUR down on French PM resignation

October 6, 2025 8:41 AM UTC

EUR down across the board as French PM resigns after less than a month in office

USD, JPY, CHF flows: Steady markets, JPY still has upside scope, CHF topping out

October 2, 2025 6:49 AM UTC

USD steady overnight, equities making new highs (again) but JPY favoured going forward. CHF looking toppy.

USD, JPY, CHF, AUD flows: USD soft, JPY and AUD favoured

September 9, 2025 6:39 AM UTC

JPY can close Monday's opening gaps on crosses. AUD/USD threatening top of recent range

SEK, CHF flows: SEK and CHF both softer after CPIs

September 4, 2025 6:40 AM UTC

Sweidsh CPI marginally avove consensus, Swiss CPI marginally below, but both SEK and CHF weaker

USD, CHF flows: USD marginally firmer on data, CHF soft

August 28, 2025 1:07 PM UTC

Claims dip, GDP revised up, CHF weakening

USD, JPY, CHF flows: JPY recovery has legs, CHF under a little pressure

August 4, 2025 7:33 AM UTC

Quiet start, CHF softer, JPY has potential to gain more longer term

EUR flows: EUR up as yields rise on Lagarde

July 24, 2025 12:42 PM UTC

Lagarde sounding less dovish, market now not fully pricing in any more easing this year. EUR firmer, but EUR/USD upside may be more limited than EUR gains on the crosses.

USD, JPY, CHF flows: JPY weaker on tariff threats, strong equities

July 2, 2025 6:35 AM UTC

JPY weakens as Trump threatens 30% tariff

JPY, USD, EUR, CHF flows: JPY the big loser overnight, PMI data of interest

June 23, 2025 6:52 AM UTC

JPY loses ground across the board overnight. Preliminary June PMIs of interest in the absence of escalation of the Middle East conflict

CHF flows: EUR/CHF dips slightly after SNB cut

June 19, 2025 8:10 AM UTC

SNB cuts 25bps as generally expected. Small EUR/CHF dip due to minority view that SNB would cut rates to negative

NOK, SEK, CAD, JPY flows: Potential for corrections

April 24, 2025 6:46 AM UTC

FX moves driven by the tariff driven risk sell off can correct in less volatile markets

GBP, EUR, USD, CHF flows: GBP slightly firmer on GDP, USD remains under pressure

April 11, 2025 6:59 AM UTC

GBP benefiting from much strogner than expected UK GDP. USD remains under pressure, CHF strength may be a little overdone

CHF flows: CHF softer after rate cut

March 20, 2025 9:06 AM UTC

CHF weaker after SNB cut rates as generally expected. More scope for CHF/JPY decline than EUR/CHF gain

JPY, CHF, EUR, TRY flows: Safe havens benefit as TRY sells off

March 19, 2025 8:15 AM UTC

Safe haven rising as TRY sells off on detention of mayor of Istanbul

JPY flows: JPY supported by hawkish BoJ and weaker equities

March 13, 2025 7:59 AM UTC

JPY resumes gains as equities slip and Ueda maintains hawkish stance

EUR flows: EUR gains on Ukraine look optimistic

February 13, 2025 9:33 AM UTC

EUR gains on the back of rising expectations of an end to the Ukraine war look optimistic

NOK flows: NOK firmer after higher CPI

December 10, 2024 7:49 AM UTC

NOK makes some gains after CPI comes in above expectations, but scope for much larger recovery

USD, CHF flows: USD recovers slightly, CHF holds firm

December 9, 2024 7:52 AM UTC

USD recovers slightly after post-employment dip but Fed rate cut still largely priced in. CHF stays firm on geopolitics, Eurozone concerns

CHF flows: EUR/CHF bounces on SNB comments

November 22, 2024 2:32 PM UTC

EUR/CHF back above opening levels after SNB chair Schlegel indicates potential for negative rates. But scope for CHF losses against the UR remains quite limited. CHF/JPY and CHF/NOK much more vulnerable

USD, JPY, CHF flows: USD quieter, crosses to dominate

November 19, 2024 8:00 AM UTC

Majors mostly consolidating. Verbal intervention from Japan helping cap USD/JPY but little USD momentum seen. Scope for action on crosses 

CHF flows: CHF falls on weaker CPI

November 1, 2024 7:54 AM UTC

CHF falls sharply as October CPI comes in below consensus, but declines unlikely to extend far ahead of the US election

USD, JPY, CHF flows: Safe havens firm on Middle East tension

October 2, 2024 6:48 AM UTC

Safe havens remainign strong as Middle East tension rises. Oil price move thus far is modest, but fears of escalation remain. JPY the best value of the safe havens.

USD flows: USD slips lower on softer PCE price data

September 27, 2024 1:19 PM UTC

USD generally softer after PCE price index rises only 0.1% in August. AUD and JPY favoured

USD, AUD, JPY, CHF flows: US data maintains positive risk sentiment

September 26, 2024 1:10 PM UTC

Lower initial claims and better core durable goods orders keep the USD and risky currencies on the front foot