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

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The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.0130 level and was capped around the CHF 1.0240 level.  Data released in Switzerland today saw November real retail sales up 0.6%.  Swiss National Bank is expected to keep interest rates unchanged for at least the next couple of months.  U.S. dollar offers are cited around the CHF 1.0615 level.  The euro came off vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.4720 level while the British pound moved lower vis-à-vis the Swiss franc and tested bids around the CHF 1.6315 level. 

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