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EUR/CHF stick with gradual descent towards parity


While the yen stole the show in trading yesterday, the franc continues to do its job steadily after the SNB’s policy pivot two weeks ago. As mentioned then, the change has definitely shaken up the landscape of the major currency bloc and puts the franc among the favorites given the moment of surprise and the fragility of the markets at the moment.

The swissie is the best performer today with USD/CHF itself down 0.5% at 0.9565 while EUR/CHF is re-testing daily support from the April lows at 1.0088-89 currently. A firm break below opens another shot at parity for the pair and this time there might be more conviction to break than after the failed attempt in March.

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