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Forex Flash: EUR/CHF rises on allayed Eurozone concerns – UBS

By FXstreet.com,  January 11, 2013, 04:32:00 AM EDT

FXstreet.com (Barcelona) - The EUR/CHF climbed off the 1.2000 exchange rate floor back in September, and we are often asked why the cross has not moved much higher especially given perceptions that the Eurozone debt crisis has eased.

"Of course currencies can lay dormant for a long time until evidence in favor of a move reaches a critical mass. After that, we need only a moment of collective realization before a new trend gets underway." explains Research Analyst Gareth Berry at UBS.

According to Berry, "Thursday's upbeat comments by ECB President Draghi could very well provide the trigger. The remarks should be seen as a ringing official endorsement of what investors can already see on their screens. However, we still view the EUR/CHF as neutral, though Thursday's strength carried on this morning and focus is on resistance at 1.2169, a break would open 1.2185."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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