24 Aug 2015
USD/CHF tumbles to 8-week lows
FXStreet (Córdoba) - The US dollar is rising against commodity and emerging market currencies, but versus the Swiss franc is tumbling, adding to last week losses. USD/CHF recently bottomed at 0.9256, hitting the lowest level since June 29.
USD/CHF bounces from lows, remains under pressure
The pair stated the week trading near 0.9500 after losing more than 300 pips last week. It slide during the Asian session amid risk aversion and recently, as the equities sell-off intensified worldwide, broke below 0.9360 and plummeted to 0.9255.
Currently is trading around 0.9300, having so far the worst daily performance in months and losing ground for the fifth trading day in a row, accumulating a decline of more than 500 pips from the level it had a week ago.
Financial markets on shock mode
Following the worst day for stocks in China since 2007, equities continue to fall sharply on Europe and in the US where the Dow Jones is falling almost 4%. Volatility jumped as stocks crashed. Crude oil tumbled more than 5% while gold remains steady, around $1160 an ounce.
USD/CHF bounces from lows, remains under pressure
The pair stated the week trading near 0.9500 after losing more than 300 pips last week. It slide during the Asian session amid risk aversion and recently, as the equities sell-off intensified worldwide, broke below 0.9360 and plummeted to 0.9255.
Currently is trading around 0.9300, having so far the worst daily performance in months and losing ground for the fifth trading day in a row, accumulating a decline of more than 500 pips from the level it had a week ago.
Financial markets on shock mode
Following the worst day for stocks in China since 2007, equities continue to fall sharply on Europe and in the US where the Dow Jones is falling almost 4%. Volatility jumped as stocks crashed. Crude oil tumbled more than 5% while gold remains steady, around $1160 an ounce.