The Swiss franc experienced very choppy price action on Thursday, but ultimately gained against the US dollar, euro, and British pound due primarily to its low-yielding, safe haven status. From a technical perspective, the currency is nearing some critical levels, with EURCHF facing key support at 1.5250 and resistance at 1.5350/80, while USDCHF closed near the center of a narrowing range of 1.0560-1.0850 and GBPCHF traded near the middle of its 1.75-1.80 range. From a fundamental perspective, economic data continued to suggest that the Swiss National Bank may continue intervening in the currency markets due to the threat of deflation. Indeed, Swiss producer and import prices dropped 6.1 percent in July from a year earlier, the sharpest drop in nearly 34 years in July, as oil prices fell and the appreciation of the Swiss franc against the euro over that time period has made imports from the region cheaper.