Has the SNB been behind the AUD selling? via ForexLive

The analysts at Credit Agricole are speculating so at least in an article posted from our good friends at efxnews.com  says that the SNB have actually already been in supporting EURCHF from the lows and have been actively selling AUD and NOK in a rebalancing of reserves

It could be a 2+2=5  theory given that the AUD  makes up only a small part of existing reserves and trying to explain away the recent AUD falls but hey, it's worth throwing out there.

Follows on nicely from an exchange I've been having with Mr Sir in this thread where he suggested that some “smoothing” ( my term) may have already been/currently going on and I noted the BOE selling parcels of cable in the rally to 1.7200+ in their massaging to add to reserves

We won't know for sure until the October bulletin from the SNB, or indeed get further evidence from Thursday's meeting,  but if I glean anything more from my sources then I'll let you know ofc.

EURCHF currently 1.2098 having run into the offers at 1.2120-25. USDCHF 0.9361 off the 0.9368 highs after the softer producer price data earlier.

posted via ForexLive