SNB and CNB likely buying Euro

Euro's large move upwards have baffled traders and investors, who struggle to pin point any specific reason for the move.

It is truly difficult to find what's behind in Euro's recent move, however this might one of the many reasons why Euro is up.

Last week Swiss National Bank (SNB) have declared that they will be intervening to buy Euro, in order to pop up EUR/CHF exchange rate. Euro is currently trading at 1.06 against Franc, up more than 1% for the day. SNB might easily be behind some of Euro's move since last week.

Another central bank is expected to be Czech National Bank, which is likely to defend its 27 peg with Euro, with utmost determination.

Euro traded as low as 27.01 against Koruna before popping up to 27.06. Czech central bank is likely to remain large in buying Euro against Koruna.

And with dollar broadly weak across board, Euro advance against Dollar. Euro is currently trading at 1.107 against dollar.