The Australian dollar was the best G8 currency this week while the Swiss franc was the laggard.
weekly FX returns
The Australian jobs report was the driver for the aussie while the euro and swissy dumped after Draghi’s press conference.
I can’t say I look at the AUD/CHF chart too often but I mentioned it about six weeks ago when that downtrend was breaking (the green line). Now the daily chart is poised for its first weekly close above the 200-day moving average in more than a year.
AUDCHF daily w 200dma (orange)
What’s odd is that this pair is often a risk proxy and stock markets were lower this week right across the globe while Treasury yields tested the 2014 lows. That kind of divergence is a warning of a pending jump in volatility.
