6 Mar 2015
USD/CHF climbs above 0.9800 after nonfarm payrolls
FXStreet (Córdoba) - USD/CHF jumped to fresh recovery highs above 0.9800 as the dollar was boosted by strong US nonfarm payrolls report.
US economy added 295,000 new jobs in February, above the 240,000 expected by analysts. The unemployment rate dropped to 5.5% from 5.7% the previous month. However, job creation in the prior 2 months was revised down by a net 18,000 jobs.
USD/CHF rose to a 7-week high of 0.9820 immediately after the data, but failed to extend gains and retreated slightly. At time of writing, the pair is trading around 0.9800, recording a 0.66% gain on the day.
USD/CHF was already on an upward bias, as the dollar continues to take back losses that followed the SNB decision to abandon the franc cap.
US economy added 295,000 new jobs in February, above the 240,000 expected by analysts. The unemployment rate dropped to 5.5% from 5.7% the previous month. However, job creation in the prior 2 months was revised down by a net 18,000 jobs.
USD/CHF rose to a 7-week high of 0.9820 immediately after the data, but failed to extend gains and retreated slightly. At time of writing, the pair is trading around 0.9800, recording a 0.66% gain on the day.
USD/CHF was already on an upward bias, as the dollar continues to take back losses that followed the SNB decision to abandon the franc cap.