FXstreet.com (Córdoba) - Dollar is extending it gains across the board. Against the Swiss Franc broke a resistance at 1.0300 and rose to 1.0334, posting a fresh intra-day high. Currently USD/CHF is trading at 1.0325/27 which is 0.55% above today's opening price action.
On the upside, resistance lies at 1.0360 (Oct 5 highs) and above at 1.0400/05. Support is located at 1.0300 and below at 1.0255 (intra-day low).
The Erste Bank Bond Research Team, comments: We still think that the main focus of the SNB is the franc. Indeed, in a recent article titled The Swiss Franc and the Financial Crisis, SNB council member Jordan points out once more that the franc is perceived as very safe by the markets, implying safe haven flows in times of turmoil that need not reflect the economic evolution. Hence, it is of crucial importance to the economy that the SNB counteract such an artificial strengthening.
The Swiss Franc is also falling against European currencies. EUR/CHF rebounded at 1.5095 and rose above 1.5150. The pair peaked at 1.5158 posting a fresh intra-week high. GBP/CHF found support at 1.6300 and started to rise. Cable is testing levels above 1.6400.