5 Mar 2015
USD/CHF extends gains, hits fresh 7-week highs
FXStreet (Córdoba) - The dollar is extending gains versus the franc for sixth day in a row Thursday, having already reached December levels as it continues to push higher.
USD/CHF has climbed more than 100 pips throughout the day and reached a 7-week high of 0.7940 in recent dealings. At time of writing, the pair is trading at 0.9735, 1.08% above its opening price.
On Wednesday, reports saying that a new EUR/CHF floor is being discussed weakened the franc although this was later denied by a Swiss spokesman.
Meanwhile, Reuters reported on Thursday that the Swiss government is seeking closer communication with the SNB after the decision to drop the franc cap and informed the economy minister only about 30 minutes in advance.
USD/CHF has climbed more than 100 pips throughout the day and reached a 7-week high of 0.7940 in recent dealings. At time of writing, the pair is trading at 0.9735, 1.08% above its opening price.
On Wednesday, reports saying that a new EUR/CHF floor is being discussed weakened the franc although this was later denied by a Swiss spokesman.
Meanwhile, Reuters reported on Thursday that the Swiss government is seeking closer communication with the SNB after the decision to drop the franc cap and informed the economy minister only about 30 minutes in advance.