- The Swiss franc among the best in the G10 on Monday.
- USD/CHF resumes declines after pause in the Asian session.
- EUR/CHF reverses initial rise.
The Swiss franc remains one of the strongest in the G10 group. USD/CHF is falling significantly for the fourth day in a row and hit as low as 0.9512, the lowest since Aug 18.
In less than a week, the pair accumulates a drop of more than 300 pips. It went from operating at highs in a month and a half, to lows in almost a month. The reversal was trailed by some dollar weakness and a firmer Swiss franc.
The greenback on Monday is extending the correction on all fronts. The DXY falls 0.77% and trades at 108.10, moving away from the decade highs hit last week.
Even the EUR/CHF is trending down, despite the interest rate hike by the European Central Bank. The cross feigned a recovery on Monday, but after reaching 0.9745 it changed direction and fell towards Friday’s lows, reaching levels below 0.9650.
Technical levels
Source: Fx Street
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