Swiss Franc Strongest Of Currencies Basket
The Swiss Franc is topping the relative strength daily chart as can be seen below.
USD/CHF, in particular, is in a decisively strong downtrend due in part to differing interest rate expectations for the US dollar and Swiss franc. The safe haven status of the Swiss franc is also proving to be important in the current climate.
The Swiss Franc has also seen major gains against sterling with a breakout of recent lows looking ominous for the pound.
However, todays price action has printed a doji on USD/CHF which could be indicating a temporary loss of momentum after the recent unidirectional moves to the downside.
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