QuoteDislikedI once opend two interest positiv EUR/USD and USD/CHF positons (both LONG) just to collect swap every night. You're hedged this way too. My biggest floating loss was 30 pips (over months) on 1 Lot EURO 1.5 Lots Swissy = 2.5 Lots.
Uhm, you'd be hedged against dollar moves... but you'd still have an effective directional trade of EUR/CHF (assuming longs on both).