Swiss Franc Climbs As Focus Shifts To Central Bank Meetings
09 Dicembre 2022 - 06:32AM
RTTF2
The Swiss franc was higher against its major rivals in the
European session on Friday, as investors geared up for a slew of
central bank policy meetings due next week.
A weakness in the dollar ahead of the next week's Federal
Reserve monetary policy meeting and the inflation data could be
attributed to the currency's strength.
The Fed is expected to slow down its rate hike to 50 basis
points at the meeting to be held on December 13-14.
U.S. producer inflation data for November due later in the day
could offer more clues about the health of the economy.
Economists expect the PPI to rise to 7.2 percent year-on-year,
following a 8 percent increase in the previous month.
The franc jumped to 0.9325 against the greenback, its highest
level since April 14. If the franc rises further, it may locate
resistance around the 0.89 level.
The franc was higher against the pound and the euro, at 2-day
highs of 1.1425 and 0.9855, respectively. The franc is seen finding
resistance around 1.11 against the pound and 0.96 against the
euro.
The CHF/JPY pair hovered at a 2-day high of 146.21. The currency
is likely to challenge resistance around the 149.5 level.
Looking ahead, U.S. PPI for November and University of
Michigan's preliminary consumer sentiment index for December are
due in the New York session.
Grafico Cross Euro vs CHF (FX:EURCHF)
Da Nov 2023 a Dic 2023
Grafico Cross Euro vs CHF (FX:EURCHF)
Da Dic 2022 a Dic 2023