0.806
Today
-0.14%
5 Days
+0.13%
1 Month
-0.07%
6 Months
+3.51%
Year to Date
+1.77%
1 Year
+0.24%
Opening Price
0.805Previous Closing Price
0.807The USD/CHF tumbles nearly 0.80% on Thursday as the Greenback weakens on rumours of a potential intervention in the FX markets to boost the Japanese Yen. Consequently, the pair fell from around daily highs of 0.8131, extending its losses to the current exchange rate near 0.8065.
Brown Brothers Harriman’s (BBH) Elias Haddad reports the Swiss Franc (CHF) is the second-best performer today after the Japanese Yen as Swiss inflation surprised to the upside in August, reinforcing Swiss National Bank (SNB) hike expectations.
USD/CHF comes under selling pressure on Thursday as a sharp rally in the Japanese Yen (JPY) weighs broadly on the US Dollar (USD), while the Swiss Franc (CHF) draws support from stronger-than-expected inflation and growth data.
Societe Generale strategists note Swiss August Consumer Price Index (CPI) and second-quarter Gross Domestic Product (GDP) surprised to the upside, triggering profit-taking in EUR/CHF and USD/CHF but leaving Swiss National Bank (SNB) policy expectations unchanged.
The Swiss Franc (CHF) accelerated its recovery against the US Dollar (USD) on Wednesday’s early European session, as Swiss inflation and economic growth data beat expectations.
• Swiss August headline inflation accelerated to 0.8%, exceeding expectations. • U.S. dollar pulled back as Treasury yields eased before payroll data. • USDCHF faced resistance near 0.8130, triggering stop-loss orders and profit-taking.
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The downside prevails as long as 0.8116 is resistance, with 0.8061 and 0.8049 as targets
above 0.8116, look for 0.8135 and 0.8147.
The downside prevails as long as 0.8116 is resistance, with 0.8061 and 0.8049 as targets
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