Japan Jan Eco Watchers Survey: Current 49.5

HSBC research team has published their view on the Swiss Franc, in which concerns about sustainability in the EUR/CHF rally are highlighted, saying that "the risk-reward of being long is quite different at 1.2500 than at 1.2050, thus should risk appetite falter, there is scope for some fresh CHF strength before the SNB needs to step back into the market with FX intervention."