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Forex: Swissy retreats from highs on disappointing CPI

By FXstreet.com,  July 06, 2010, 03:42:00 AM EDT

FXstreet.com (Barcelona) - The Swiss Franc pulled-don from daily highs as the Swiss economy was unable to bolster any further CHF momentum as the reading misaligned with investors expectation. June CPI dipped by 0.40% compared to -0.10% in May.

Prior to the release, USD/CHF posted a new 12-week low at 1.0560 but missed the chance to extend to the downside. Instead, the pair bounced off lows to target 1.0610 now.

A similar reaction happened on GBP/CHF after a rejection from lows at 1.6035 sent the pair to daily highs at 1.6130. EUR/CHF also jumped above 1.3350 after declining to 1.3280 earlier on.




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

Referenced Stocks:



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