EU Apr Consumer Price Index (MoM): -0.1%; 1.2% (YoY)

The USD/CHF rally was capped at 0.9710 Thursday (session high), following the release of economic data in the EMU, by and large the paramount event of this morning. During European trading, the pair is still positive, operating at +0.38%, despite easing back towards the 0.9683/85 level.