SNB side-lined as EURCHF tumbles

From forexlive.com

We've seen a sharp fall from 1.0520 to 1.0452 in the last hour or so. Much talk here and elsewhere this week on SNB intervening/smoothing to prevent CHF appreciation. Previous support line in the sand at 1.0460 was broken yesterday but the sharp Greek-led rally sent the pair flying to 1.0527 overnight. The retreat speed this morning tells us the SNB are not jumping in at this stage adding to the euro supply, as well as a sharp drop in USDCHF from 0.9465, but expect them to be keeping close tabs on unfolding events and into the Asian session on Sunday eve/Monday morning. Currently 1.0454 USDCHF 0.9403