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USD/CHF drops to 1.0255, consolidates monthly gains

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - USD/CHF dropped further during the American session amid a stronger Swiss franc that climbed across the board. The pair printed a fresh daily low at 1.0257 and then bounced to the upside. Near the end of the day it was trading at 1.0275/80.

    Greenback is losing ground on Monday versus the Swissy after a 3-day rally, when it accumulated gains of more than a hundred pips.

    USD/CHF: Highest monthly close since 2010

    The pair is about to end the month with a gain of more than 400 pips, the best performance since September 2011 and the first close above the parity level in five years.

    Ongoing expectations of a rate hike in the US boosted the US dollar while the Swiss franc accelerated the decline after Mario Draghi signaled almost a month ago that the European Central Bank would re-examine its monetary policy in December, which triggered speculations about a rate cut and an extension in the purchase program.
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