MARKET TALK: EUR/CHF Spikes Slightly Higher As Traders Mull Floor

3:39 (Dow Jones) In normally thin US afternoon trading Wednesday, the euro quickly gained on the Swiss franc. The move appeared to be the result of market participants paying closer attention to a Dow Jones interview with Goldman Sachs' Jim O'Neill in which he says the SNB could raise its euro-franc exchange rate floor to CHF1.25 from CHF1.20. The euro, which had been hovering just above the CHF1.2000 SNB-imposed floor earlier in the session, jumped to CHF1.2035 before settling back to trade most recently at CHF1.2026, according to EBS via CQG. The Swiss National Bank has stepped into the market to hold the CHF1.20 level, but thus far hasn't necessarily made a push to drive it much above that floor.