The dollar was unable to make any move towards resistance in the 1.08 region against the franc during Monday and, although still broadly resilient, it retreated to the 1.0720 region on wider franc gains. The Euro retreated again with lows below 1.4650 against the Swiss currency.
The underlying market forces are still for a battle between fears over National Bank intervention to weaken the Swiss currency and defensive demand for the franc triggered by the persistent lack of confidence in the Euro-zone. These conflicting pressures are liable to continue in the near term and high intra-day volatility will remain a key threat.
By: Darrell Jobman
The underlying market forces are still for a battle between fears over National Bank intervention to weaken the Swiss currency and defensive demand for the franc triggered by the persistent lack of confidence in the Euro-zone. These conflicting pressures are liable to continue in the near term and high intra-day volatility will remain a key threat.
By: Darrell Jobman
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