Swiss franc weakens sharply as we wait on FOMC

Author: Mike Paterson | Category: News

CHF pairs notably higher all of a sudden 26 July

Both USDCHF and EURCHF have been underpinned for a while now as I've been highlighting and now we've seen a sharp ramp higher.

Our old friend the SNB can't be ruled out to help things along, never shy to lend a helping hand.

No other obvious reason that I see/hear so let's best guess as flows in quiet markets ( not to mention the usual thin CHF liquidity) with or without the help of Jordan & Co.

After finding a good base around 1.1080 EURCHF now posting 18-months of 1.1151 in a rush while USDCHF has rallied further to 0.9588 after finding a good base at 0.9500 and 0.9520.

More sell interest between 1.1180-00 and 0.9600.

Anyone got an further info on these moves then please feel free to share.

Update: Hearing talk of some hedge fund selling of CHF in a number of tranches over last couple of days

                                                      EURCHF 15m

                                                   USDCHF 15m

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