CHF/USD Fundamental Outlook at 1500 GMT (EST + 0500)

CHF/USD Fundamental Outlook at 1500 GMT (EST + 0500)

By GCI Financial Ltd.
18 November 2008 @ 02:36 pm EDT

The Swiss franc depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.2025 level and was supported around the CHF 1.1970 level. Data released in Switzerland today saw Swiss retail sales climb 6.4% y/y while October unemployment reached 2.5%. U.S. dollar offers are cited around the CHF 1.2120 level. The euro and British pound appreciated vis-à-vis the Swiss franc as the crosses tested offers around the CHF 1.5190 and CHF 1.8090 levels, respectively.

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