Header help text

Start trading with a free $30

There is no better time than now
Your first deposit is on us


Grab your $30 from XM

Top Stories
by ForexNewsNow Team on December 27th, 2010

USD/CHF falls as ‘bullish’ Swiss franc continues record path

intraday analysis - a pile of Swiss francsNEW YORK (Forex News Now) – The dollar fell against the swissy on Monday as the latter currency continued a record rally that has the Swiss central bank worried.

In early European currency market trading, USD/CHF hit 0.9590, down 0.42% on the day.

According to online FX trading analysts, Swiss central bank President Philipp Hildebrand may not be capable of stopping the franc from continuing the current record rally against major currencies that he calls a “burden.”

Data released by Bloomberg suggests that options traders are more bullish on the franc for the next three months than any other major currency except the yen.

The Swiss franc has now risen more than 7.6 percent against the dollar for 2010.

According to USD/CHF analysis, the dollar was likely to touch support around the Oct. 14 low of 0.9463, and to encounter resistance around the Dec. 16 high of 0.9733.

Elsewhere, the swissy also continued its rise against the euro: EUR/CHF traded at 1.2606, down 0.02% in intraday analysis.

By ForexNewsNow Team

This is a general account of the ForexNewsNow Team. It is used to published exclusive content carefully crafted by our experts as well as it is used to bring you the most recent industry highlights from our guest contributors that wish to remain anonymous.

More content by ForexNewsNow Team

Comments (0 comment(s))