19 Jan 2015
USD/CHF enters a calmer phase
FXStreet (Córdoba) - USD/CHF steadied and has spent the day in consolidation mode after last week’s SNB surprise decision to remove EUR/CHF floor and the subsequent franc rally.
After zigzagging in a wide range Friday, USD/CHF settled in 150-pip range on Monday and continues to consolidate at low levels, around 15% down since Thursday’s announcement. At time of writing, the pair is trading at the 0.8650 zone, having struck lows sub-0.7400 last week.
Meanwhile, EUR/CHF wavers around parity level as investors gear up for European Central Bank decision scheduled for next Thursday. Speculations the ECB will announce a QE program skyrocketed along with the franc after the SNB shock decision. At time of writing, EUR/CHF is trading at 1.0039, 100 pips above its opening price.
After zigzagging in a wide range Friday, USD/CHF settled in 150-pip range on Monday and continues to consolidate at low levels, around 15% down since Thursday’s announcement. At time of writing, the pair is trading at the 0.8650 zone, having struck lows sub-0.7400 last week.
Meanwhile, EUR/CHF wavers around parity level as investors gear up for European Central Bank decision scheduled for next Thursday. Speculations the ECB will announce a QE program skyrocketed along with the franc after the SNB shock decision. At time of writing, EUR/CHF is trading at 1.0039, 100 pips above its opening price.