(Action Economics) - 29-Mar-12 10:04 - EUR-CHF is static close to 1.2050 amid two-way action, along with the threat of SNB.

CHF movement was influenced by broader dollar interest after USD-CHF rebounded from in front of 0.9000 barriers and towards 0.9075 as risk reduction picked up pace over the course of the European morning.

After a quiet start in Europe, sentiment took a turn for the worse after a weaker than expected outturn in eurozone confidence data, while ahead of Friday's European finance ministers meeting movement remained defensive.

However, USD-CHF longs are expected to fade rallied from 0.9090 to 0.9110, with the dollar still skewed to softer levels since Monday's dovish rhetoric from Fed Chairman Bernanke and persistent reserve management activity in EUR-USD under 1.3300.

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