USD/CHF consolidates around 0.9200

FXStreet (Córdoba) - USD/CHF is going through a consolidation phase around 0.9200 after a sudden rally staged during the European session, which took the pair to its highest level since the SNB shocker.

USD/CHF rose sharply throughout the day and reached a high of 0.9239 amid speculation the SNB is intervening to weaken the franc. At time of writing, the pair is trading at the 0.9190 zone, recording a 1.62% gain on the day.

Meanwhile, EUR/CHF has climbed to a post-SNB high of 1.0448 which is fairly close to the supposedly desired range by the SNB between 1.05-1.10.