6 Mar 2015
USD/CHF hits fresh highs above 0.9750
FXStreet (Córdoba) - USD/CHF rose further and printed a fresh 7-week high at 0.9775. Earlier pulled back and found support at 0.9720 from where it bounced to the upside, breaking above yesterday’s high that lie at 0.9750.
Greenback is rising for the seventh day in a row against the Swiss franc ahead of the release of the Non Farm Payroll report in the US that is likely to impact on the currency market.
Swiss data: CPI and reserves
Data from Switzerland today showed that the Consumer Price Index fell 0.3% in February, consensus was for a flat reading; the annual rate dropped from -0.6% to -0.8%.
Foreign exchange reserves reached a new record high in February according to the Swiss National Bank (SNB), 10 billion Swiss francs above last month. Is is not clear if gains were the consequence of intervention in the currency market or price fluctuations. The SBN said it held 509.250 billion francs in reserves, compared to 498.463 billion francs it held in January.
Greenback is rising for the seventh day in a row against the Swiss franc ahead of the release of the Non Farm Payroll report in the US that is likely to impact on the currency market.
Swiss data: CPI and reserves
Data from Switzerland today showed that the Consumer Price Index fell 0.3% in February, consensus was for a flat reading; the annual rate dropped from -0.6% to -0.8%.
Foreign exchange reserves reached a new record high in February according to the Swiss National Bank (SNB), 10 billion Swiss francs above last month. Is is not clear if gains were the consequence of intervention in the currency market or price fluctuations. The SBN said it held 509.250 billion francs in reserves, compared to 498.463 billion francs it held in January.