10 Jul 2013
USD/CHF bounces after sharp fall on FOMC minutes
FXstreet.com (Córdoba) - USD/CHF quickly erased its FOMC-incurred losses as the greenback recovers ground while investors asses the Fed minutes.
Even though lack of a clear signal for a September taper move weighed initially on the USD, sending USD/CHF to lows sub-0.9600, comments that about half of the members want to end asset buying later this year allowed the greenback to recover ground afterwards.
USD/CHF slumped to a low of 0.9595 only to bounce back to pre-minutes levels a few minutes later. At time of writing, USD/CHF is trading at the 0.9650 area, 0.8% below its opening price. Attention now turns to Bernanke's press conference.
Even though lack of a clear signal for a September taper move weighed initially on the USD, sending USD/CHF to lows sub-0.9600, comments that about half of the members want to end asset buying later this year allowed the greenback to recover ground afterwards.
USD/CHF slumped to a low of 0.9595 only to bounce back to pre-minutes levels a few minutes later. At time of writing, USD/CHF is trading at the 0.9650 area, 0.8% below its opening price. Attention now turns to Bernanke's press conference.