USD/CHF: Strong Swiss Franc concerns – ING
|The USD/CHF has broken below 0.7800, raising concerns in Zurich as the trade-weighted Swiss Franc approaches new all-time highs. Analysts suggest that if this trend continues, the Swiss National Bank may need to consider negative rates again. Resistance is noted at 0.7800/7810 for USD/CHF. ING Bank's Global Head of Markets and Regional Head of Research for UK & CEE Chris Turner notes.
Swiss Franc strength raises alarms
"The fact that EUR/CHF is offered near 0.92 and that USD/CHF has broken under 0.7800 will be ringing alarm bells in Zurich."
"If this USD/CHF move is to continue, 0.7800/7810 should now prove resistance."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
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