Big news overnight in the FX world was the moves in EURCHF defending 1.5000 levels and USDCHF 1.065 which smacks of SNB
intervention, reminiscent of BOJ interventions in USDJPY in 2003-2004.
FOMC meeting - the flavor of the Fed's outlook was unchanged. It continued to expect economic activity "to remain weak for a
time" and see a "gradual resumption of sustainable economic growth." Increased risk of inflation as the Fed dropped the
'downside risk to inflation' references. - Saxobank
