Spot Forex: Latest Headlines
Posted 7/29/2010 10:28:00 PM The CHF was the clear outperformer yest even eclipsing the stellar
performance of the AUD as market players decided to pour back into the
safe haven of the Swissie after the comments by a Moody's analyst saying
that the US credit rating would need to be reviewed if the current
projections for debt are realized. That saw the [USD/CHF] pluged from an
earlier high of 1.0580 to an o/n low of 1.0374. Also giving the CHF a huge
prop was heavy selling in the Eur/Chf by a European name which saw the
cross eventuall y an o/n low of 1.3580. The pair is currently trading
around the 1.0400 handle ahead of the Swiss KOF leading indicator data due
at 9.30 GMT. Bids at 1.0345 by a US name will provide support and offers
at 1.0450 by a French name will keep the range Copyright © 2010, Informa Global Markets
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