Swiss data supports the bullish CHF theme, with Swiss industrial orders rising 5.4% YoY in Q2, while Q1 orders were revised up to 6% YoY from 5.3% originally reported. A relatively healthy fundamental picture supports the flood of money that is moving back in to the CHF as fund names and speculative accounts unwind exposure to risk positions. EURCHF extended its recent losses to record 1.5778 lows and GBPCHF traded down to 1.9880. Meanwhile, USDCHF price action remains choppy amid broad based volatility via the dollar. Currently, the dollar pairing is trading just under the 1.1100 handle after losing upward momentum in the Asian session. Some of the heaviness is being attributed to heavy unwinding via the crosses, with reports of Eastern European names offloading long standing exposure. Eastern Europeans have previously been heavy participants in the Swiss market, using CHF as a funding tool for investment in the housing or assets markets in general.