Spot Forex: Latest Headlines
Posted 7/28/2010 9:08:00 PM [USD/CHF] rose to the day's high of 1.0623 in early Asian trade
before gravitating lower over the course of the day. The CHF which was on
the backfoot over recent sessions on the back of rising risk appetite
asserted itself somewhat after European stock gave up its earlier gains
suggesting that market confidence on the global economic recovery is not
on solid footing as yet. The pair slipped to an o/n low of 1.0537 weighed
in part by selling in the Eur/Chf cross after the recent hefty gains. With
no first tier data out of Switzerland and the US except for the claims
report, risk appetite/aversion will continue to drive the pair's
direction. Buying orders at 1.0525 by a German name will provide support
and selling orders at 1.0630 by a French name will keep the range Copyright © 2010, Informa Global Markets
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