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Oct 14 - 05:55 AM

USD/CHF - Ebbs And Flows By 1.00; SNB-Fed Swap Line Is Hot

By Rob Howard  —  Oct 14 - 04:15 AM
  • USD/CHF elicited support pre-0.9961 after falling from 1.0018 (Asia EBS top)

  • 0.9961 was Thursday's EBS low -- before jump to 1.0072 on hot U.S. CPI data

  • See: nL1N31E12F. 1.0072 was seven pips beyond May's three-year EBS high

  • U.S. stock turnaround was catalyst for 98 pip retreat from 1.0072 Thursday

  • SNB drew $6.27 bln from Fed currency swap line this week; $3.1 bln last week

  • Two transactions larger than any of the SNB's spring 2020 draws nL1N31E2X7

Source:
Refinitiv IFR Research/Market Commentary

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