25 Mar 2015
GBP/CHF consolidates after falling 200 pips
FXStreet (Córdoba) - GBP/CHF dropped dramatically during the last two weeks and today is consolidating around 1.4250.
Yesterday the pair lost ground for the sixth trading day in a row and posted the lowest daily close in a month. The pair bottomed at 1.4199, more than 700 pips below the level it had a week ago. While the Swiss franc has been the best performer among European currencies during the last few days, the pound has been the worst across the board.
On Monday GBP/CHF climbed above 1.4600 but then fell 180 pips from the highs and yesterday dropped 205 pips. Currently the pair trades at 1.4250, flat for the day as the currency market remains calm.
Yesterday the pair lost ground for the sixth trading day in a row and posted the lowest daily close in a month. The pair bottomed at 1.4199, more than 700 pips below the level it had a week ago. While the Swiss franc has been the best performer among European currencies during the last few days, the pound has been the worst across the board.
On Monday GBP/CHF climbed above 1.4600 but then fell 180 pips from the highs and yesterday dropped 205 pips. Currently the pair trades at 1.4250, flat for the day as the currency market remains calm.