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Jun 07 - 07:55 AM

USD/CHF - Drop May Be The Most Important Move In FX Markets

By Jeremy Boulton  —  Jun 07 - 05:40 AM
  • USD/CHF has fallen from 0.9223 on May 1 to 0.8882 EBS on Jun 7

  • Friday's drop sees pair fall below the 200-DMA for 1st time since March

  • The USD/CHF drop looks to be result of paring of SNB FX reserve nL1N3I50JA

  • Last time SNB purchased francs USD/CHF dropped from parity toward 0.84

  • Oil's recent plunge has boosted expectations for U.S. easing

  • USD/CHF drop could have big influence on FX mkts ahead first U.S. rate cut

Source:
Refinitiv IFR Research/Market Commentary

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