16 Jan 2015
USD/CHF attempts to stabilize above 0.8500
FXStreet (Córdoba) - The Swiss franc resumed the rise versus the dollar during the American session after a brief correction following yesterday outstanding rally triggered by the SNB.
USD/CHF reached a high of 0.8800 during the European trade but failed to sustain that level and retreated toward the 0.8450 zone in recent dealings. The pair has spent the day zigzagging in a wide range, without a clear direction as investors overcome yesterday’s SNB shock.
At time of writing, USD/CHF is trading at the 0.8500 zone, 16% below yesterday’s highs scored above 1.0200 before the SNB decided to remove the EUR/CHF floor.
The unprecedented turmoil unleashed by the Swiss National Bank crushed Swiss stocks, with the nation’s index losing 13% over the last two sessions, and yields on the 10-year government bonds falling below zero for the first time ever.
USD/CHF reached a high of 0.8800 during the European trade but failed to sustain that level and retreated toward the 0.8450 zone in recent dealings. The pair has spent the day zigzagging in a wide range, without a clear direction as investors overcome yesterday’s SNB shock.
At time of writing, USD/CHF is trading at the 0.8500 zone, 16% below yesterday’s highs scored above 1.0200 before the SNB decided to remove the EUR/CHF floor.
The unprecedented turmoil unleashed by the Swiss National Bank crushed Swiss stocks, with the nation’s index losing 13% over the last two sessions, and yields on the 10-year government bonds falling below zero for the first time ever.