FXstreet.com (Córdoba) - Dollar is rising sharply against the Swiss Franc. USD/CHF fell earlier to 1.0154, (intra-day low) but rebounded and started to rally to the upside. A possible intervention by the Swiss National Bank and falling stocks fueled the pair that jumped a hundred pips from the lows. USD/CHF rose to 1.0261, posting a fresh intra-day high.
Currently trades near the highs at 1.0252/55, 0.67% above today's opening price. On the upside the next resistance lies at 1.0290/1.0300 and above at 1.0330.
The Wells Fargo Research Team affirms: ECB policymaker Noyer signaled some concern at recent FX moves, saying that a weaker pound and U.S. dollar were a 'problem' for Europe. The Swiss National Bank seemingly went one step further, with the intraday price action suggesting the central bank intervened to weaken the franc.