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USD/CHF spikes to 6-day high

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 29, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - US dollar strengthened versus its European peers at the beginning of the American session with moves exaggerated amid thin trading volumes ahead of the New Year celebrations.

    USD/CHF
    rose more than half a cent in a matter of minutes, breaking above the 0.9900 level to reach a 6-day high of 0.9942 before easing slightly. At time of writing, the pair is trading at 0.9925, recording a 0.51% daily gain.

    The greenback also advanced against the euro and the pound, but retreated against commodity currencies, which gained support from the stabilization of oil prices on Tuesday.

    On the data front, US goods trade deficit widened to $60.5 billion in November, while S&P/Case Shiller home price index rose 5.54% YoY in October versus 5.4% expected. December consumer confidence index is next on tap.
    For more information, read our latest forex news.
     

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