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

By Gci Financial Ltd.
08 February 2010 @ 02:15 pm EDT

The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.0700 figure and was capped around the CHF 1.0770 level. Data released in Switzerland today saw December real retail sales up 4.7% while the January unemployment rate rose to 4.5% from 4.4%.  Some dealers are still talking about Friday's reported intervention by Swiss National Bank in which the central bank is rumoued to have bid on the EUR/CHF cross some 280 pips above the current market price.  U.S. dollar offers are cited around the CHF 1.0810 level.  The euro moved lower vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.4645 level while the British pound came off vis-à-vis the Swiss franc and tested bids around the CHF 1.6680 level.

For more forex information, go to www.gcitrading.com

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