Swiss Franc Climbs Amid Risk Aversion
08 Juillet 2021 - 09:01AM
RTTF2
The Swiss franc appreciated against its major counterparts in
the European session on Thursday, as European shares fell after the
minutes from the U.S. Federal Reserve's latest policy meeting
showed that policy makers were worried about a spike in inflation
and opted for an eventual reduction of the stimulus programme.
Fed officials indicated that the recent jump in U.S. inflation
was higher than expected and agreed that scaling back their
bond-buying program is appropriate in response to unexpected
economic developments.
Investors await the European Central Bank's announcement of
results of strategy review due today. The ECB is expected to lift
its inflation goal to 2 percent, a significant change from the
current target of "below, but close to, 2% over the medium
term."
Data from the State Secretariat for Economic Affairs showed that
Switzerland's jobless rate decreased marginally in June.
The jobless rate fell a seasonally to 3.1 percent in June from
3.2 percent in May.
The franc strengthened to a 10-day high of 0.9170 against the
dollar, near 5-month high of 1.0838 against the euro and 4-week
high of 1.2620 against the pound, off its early lows of 0.9261,
1.0919 and 1.2782, respectively. Next key resistance for the franc
is likely seen around 0.90 against the dollar, 1.06 against the
euro and 1.25 against the pound.
The franc gained to 119.92 against the yen, from more than a
2-week low of 119.00 seen at 3 am ET. The franc is likely to face
resistance around the 123 region.
Looking ahead, the European Central Bank publishes the account
of the monetary policy meeting of the Governing Council held on
June 9-10 at 7:30 am ET.
U.S. weekly jobless claims for the week ended July 3 and
consumer credit for May will be published in the New York
session.
US Dollar vs CHF (FX:USDCHF)
Graphique Historique de la Devise
De Fév 2024 à Mar 2024
US Dollar vs CHF (FX:USDCHF)
Graphique Historique de la Devise
De Mar 2023 à Mar 2024