EUR/CHF affected by stops and political uncertainty
I don’t have any firm information yet on what is driving the CHF but the main reason, as always at this time of the day/week, will be stop losses. USD/CHF has traded to a new record low at .8070, likely triggering stops below .8080 in the process, and of course EUR/CHF has also gapped through a previous low.
- The US debt ceiling talks still haven’t been resolved
- EZ leaders seem unable to settle on one approach to the Greek debt crisis with weekend interviews by Merkel and Trichet seemingly muddying the waters rather than providing any clarity
These as before will be the main factors influencing CHF sentiment