Jun. 30, 2009 (Action Economics) --

FX Action: CHF was range bound in quarter-end trade. EUR-CHF traded around the 1.5250 area for the most part, while USD-CHF keyed off broader dollar movement. The dollar pairing ran in to offers from 1.0825 early on and tested bids at 1.0780, which held late on in the European morning. EUR-CHF has not been able to emulate the price action seen last week , with prices contained between 1.5200 and 1.5300 paremeters. The threat of SNB intervention should underpin under 1.5200, while the topside is hampered by offers from the 1.5320 area. Elsewhere, Swiss consumption fell sharply in May, with the latest UBS index hitting 0.77 from 0.91 in April. UBS said the outlook was increasingly gloomy, which should hamper any swissy buying interest.