There’s a news flash for ya…
- SNB not ruling out taking appropriate measures if necessary
- Current monetary policy is appropriate
- Swiss economy vulnerable to external shocks
- No inflationary pressures but comfortably positive (SNB stopped intervention when they perceived deflation risk had passed)
After stalling at key 0.9930 resistance yesterday, USD/CHF has retraced just over 38.2% of this week’s gains. EUR/USD, in contrast has retraced more than 50%. If you are a dollar bull, USD/CHF looks like a better way to play that EUR/USD.
