- The euro and Swiss franc among the weakest in the G10 on Thursday.
- The US inflation data can bring great movement.
- USDCHF rises after five days of declines, after bouncing from 0.9800.
The USDCHF has been rising steadily for hours and just hit a 2-day high at 0.9896. It is up more than 50 pips so far Thursday and extends the bounce after briefly trading below 0.9800 on Wednesday.
The pair bottomed at 0.9797, the lowest in a month and then began a rebound, which after a pause, restarted in the European session. The rise in USDCHF follows five days of declines and is in advance of the US inflation data.
In two hours the US Consumer Price Index for October. which is expected shows a drop in the annual rate from 8.2% to 8% and in the underlying rate from 6.6% to 6.5%. All eyes are on this data and it is expected to have a great impact on the market.
Prior to this report, the euro and Swiss franc were among the weakest currencies. EURUSD fell back to the 0.9930 area, while EURCHF hit a three-week low at 0.9825.
Technical levels
Source: Fx Street
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