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Forex - USD/CHF trading at record lows as Japan crisis in focus

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Forex Pros - The U.S. dollar was trading at record low levels against the Swiss franc on Thursday, as Japanese authorities continued efforts to avert catastrophe at a stricken nuclear plant, while the U.S. said it was sending aircraft to help Americans leave the country.

USD/CHF hit 0.8895 on Thursday, the pair's all-time low, the pair subsequently consolidated at 0.8995, tumbling 0.92%.

The pair was likely to find short-term support at 0.8850 and resistance at 0.9197, Wednesday's high.

Earlier in the day, Japanese army helicopters dropped sea water on the Fukushima Daiichi nuclear plant, 155 miles north east of Tokyo, in a desperate attempt to keep spent fuel rods from over-heating and causing further radiation leaks.

A State Department official said that the U.S. has now chartered aircraft to help Americans leave Japan and authorized the voluntary departure of relatives of diplomatic staff. Two Air France planes were also due to begin evacuating French nationals later Thursday.

The Swissie was also up against the euro, with EUR/CHF dipping 0.09% to hit 1.2607.

Also Thursday, the Swiss National Bank Thursday kept its key interest rate on hold, saying that while economic growth had been more vigorous than expected recently, the European Union debt crisis and rising oil prices pose considerable risks going forward.

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


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

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