18 Dec 2014
USD/CHF retreats to 0.9755 and rises back above 0.9800
FXStreet (Córdoba) - USD/CHF jumped after the Swiss National Bank introduced negative interest rates on sight deposits to 0.9847, hitting levels last seen in July 2012, and then pulled back. From the highs retreated almost a hundred pips and found support at 0.9755.
Ahead of the release of US economic data the pair is trading back above 0.9800 and holds a bullish tone. The Swiss franc is the worst performer across the board on Thursday so far, falling particularly against commodity currencies.
USD/CHF challenging 0.9800
On a wider perspective the pair is also moving with a clear upside bias, making higher lows and higher highs, on a monthly basis, since July. Early on December traded momentarily on top of 0.9800 but failed to consolidate and retreated; now the pair could post the first daily close above in two years.
Ahead of the release of US economic data the pair is trading back above 0.9800 and holds a bullish tone. The Swiss franc is the worst performer across the board on Thursday so far, falling particularly against commodity currencies.
USD/CHF challenging 0.9800
On a wider perspective the pair is also moving with a clear upside bias, making higher lows and higher highs, on a monthly basis, since July. Early on December traded momentarily on top of 0.9800 but failed to consolidate and retreated; now the pair could post the first daily close above in two years.