EUR/CHF rallies

By @ibtimes on

FXstreet.com (Barcelona) - Broad-based weakness in the US dollar contributed to strength for the euro and Swiss franc, but when it comes to EUR/CHF, there's upside potential ahead of the Swiss National Bank's next rate decision on Thursday at 9:00 ET.

Indeed, EUR/CHF broke above intraday trendline resistance at 1.4750 on Wednesday morning, adding to downside risks for the Swissie since the SNB is expected to cut their 3-month Libor target rate down to a range of 0.0 percent - 0.50 percent from 0.0 percent - 1.00 percent.

Terri Belkas, analyst at FXCM said: The Swiss economy has taken a severe hit from waning demand for Swiss goods by the country's European neighbors, as exports fell 8.1 percent in Q4.

Join the Discussion