Forex - USD/CHF, EUR/CHF Flows: CNN: Iraqi leader al-Abadi: U.S.-led military campaign against ISIS welcome if 'they do it right'; EUR/CHF steady, eye SNB

Published at 02:35 (GMT) 24 Sep

  

CNN : Iraq's PM said Tuesday he is happy to see US and its Arab allies striking ISIS targets in Syria, so long as they "do it right this time."

PM Haider al-Abadi told CNN's Christiane Amanpour that Iraq has "paid a heavy price" for polarization in the region and instability in Syria, saying ISIS fighters have inflicted tremendous pain, suffering and losses on his people after crossing into Iraq. He expressed hope the airstrikes will do what US President Barack Obama has vowed: degrade and destroy the group, which calls itself the Islamic State.

It's good some Arab nations have joined the American-led military campaign, al-Abadi added, though he said he wished they had understood and acted on the danger posed by ISIS sooner.

On FX, focus on the current US-led air-strikes campaign against IS in Iraq and expanded to Syria. Welcomed by Iraq PM Al-Abadi. Good to watch if the above strikes - will curb risk aversion - as it may limit IS advances for now.

Though initial reaction to US-Arab allies strikes against IS in Syria was to buy Gold, to $1,235 from $1,215 levels. Given concerns over risk aversion. Gold back down to $1,221.50/50. With focus still on the psychological $1,200.

USD/CHF at 0.9395-00, remains firm on back of firm USD, hawkish comments from KC Fed Esther George. Also less risk aversion? USD/CHF eye 1-year highs of 0.9433 again. Then 0.9450 and psychological 0.9500.

EUR/CHF remains below 1.2100 handle, at 1.2075-80, eye any SNB rumours on dips to 1.2050/1.2025-30, key 1.2000. Offers 1.2100-10, WL