CHF is well supported amid heightened risk aversion following deep falls in Asian equities. Broader FX movement is being influenced by investors fleeing countries that are behind the curve or reliant on commodities in favour of low yielding funding currencies. Good hedge fund demand was noted for CHF on Wednesday and leverage accounts are the latest protagonists in today. A U.K. clearer was an aggressive EURCHF seller, which took the cross in to 1.5850 after it started the European session at 1.5885. The down turn is exacerbated by a weak technical picture, which should reinforce a challenge of 1.5815 lows seen last Friday and then 1.5775-1.5800 order interest below. Meanwhile, USDCHF was boosted to 1.1393 highs on Wednesday and extended to 1.1396 highs in Asia. Follow through buying is hampered by an overhang of offers and heavy CHF in flows noted against the crosses. However, the weight of dollar buying should support further gains, while we continue to look for further CHF outperformance against the high yielders in the coming sessions.