Ads topic and RIC codes

• EUR/USD rises 1.0565-95 EBS - rising when expected to fall

• Current risk aversion logically favours USD over euro - both deemed safe

• On Friday EUR/CHF drops to lowest level since 2015 at 0.9419 nL1N3BQ0GU

• If SNB intervenes it will likely underpin EUR/USD too

• EUR/CHF market lacks depth - to intervene effectively SNB may utilise legs

• Legs of this cross are EUR/USD and USD/CHF - SNB buying both simultaneously

• When intervention rebalanced SNB would sell EUR/USD - 37% reserve is USD

• SNB intervention top and tails EUR/USD suppressing volatility

• The stability of emerging currencies should impress traders nL1N3BQ0P8