US dollar falls below parity against Swiss franc

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 3, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - USD/CHF dropped below 1.0000 for the first time since November 13. The pair extended losses during the American session and printed a fresh daily low at 0.9988. It was trading at 0.9995, down almost 2% for the day, having the worst performance in three months. The Swiss franc rallied across the boar during the last hour and trimmed losses against the euro.

    USD/CHF: Correction intensifies

    The pair is falling for the fourth day in a row, now weakened by a decline of the US dollar across the board. It continues to slide after hitting a multi-year high last week at 1.0327. From there it has fallen more than 300 pips.

    Today it also fell below the 20-day moving average and pushed technical indicators to favor the downside on daily charts. From a fundamental perspective, today’s moves were triggered after the ECB decision to cut the deposit rate by “only” 10 basis points and to extend the “duration” of the purchase program. Regarding the US dollar, Janet Yellen repeated yesterday’s words and attention now turn to tomorrow’s NFP report.
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