Having made a session high of 0.9545, the pair declined sharply to find support and range through into the morning. Swiss GDP figures came in lower than analyst expectations at 0.5% verses 1.6% YoY but have not had any significant effect on price action. Later this morning we have EU PPI at 09:00 GMT, and the US session we have US ISM manufacturing at 14:00 GMT. The analysts at ICN.com see support at 0.9490/0.9460/0.9420 and resistance at 0.9520/0.9550/0.9570.
European Equities have opened lower with commodities broadly higher. Spanish 10 year yields are up 1.79% whilst Italians are down 0.64%.