It’s always something in the forex market. Just when you think you’ve got it figured out, some central banker makes his maiden speech and sends the market in the other direction.
EUR/CHF is at 18-month lows after new board member Danithe said Swiss citizens should prepare for higher interest rates and market-determined FX rates.
EUR/USD is drifting up as USD/CHF sees a heavy dose of profit-taking after the ECB comments. USD/CHF looked like it had posted a near-term bottom as it rallied above 1.0640 resistance, only to slide sharply after the SNB comments. 1.0565 is support on further pullbacks. We trade now at 1.0585.
