OctaFX | OctaFX Forex Broker
Anmelden
Konto eröffnen
Back

USD/CHF: Swiss franc spikes to 0.9680 as SNB keeps rates steady

FXStreet (Mumbai) - The Swiss franc erased losses and jolted higher versus the US dollar in the European morning, knocking-off USD/CHF to fresh session lows below 0.97 handle, after the Swiss National Bank (SNB) kept the key rates unchanged at -0.75%.

USD/CHF drops from peaks

Currently, the USD/CHF pair trades -0.32% lower at fresh session lows of 0.9680, failing to resist 0.97 handle post the SNB decision. The Swiss franc resumed its upward trajectory for the second straight session on Thursday, after the country’s central banks kept its benchmark rate on hold, although revised its inflation expectations downward as a result of the drop in oil prices.

The interest rate to be charged on sight deposit account balances remained at a record low of -0.75%. The target range for the three-month Libor was also unchanged, currently between –1.25% and −0.25%.

Looking ahead, the pair is likely to be heavily impacted by the Fed rate decision, which is expected to cause higher volatility across the FX board.

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9766 (Sept 7 High) levels and above which it could extend gains to 0.9800 (Sept 10 High) levels. To the downside, immediate support might be located at 0.9640 (Aug 19 Low) levels and below that at 0.9593 (July 29 Low) levels.

EURUSD: Likely to bottom in early 2016 – Danske Bank

Christin Tuxen, Senior Analyst at Danske Bank, expects that a tightening – yet soft – Fed combined with an ECB that will be facing a swift closing of the euro-zone output gap and an associated pick-up in core inflation suggests that EUR/USD will bottom in early 2016 and see a period of range trading.
Mehr darüber lesen Previous

EUR/CHF tests lows on steady SNB

The Swiss franc is now picking up pace vs. the common currency, dragging EUR/CHF to challenge daily lows near 1.0950...
Mehr darüber lesen Next
Livechat starten