13 Jan 2016
EUR/CHF hovers near 3 ½-month highs
FXStreet (Córdoba) - The euro got a lift during the American session and extended gains versus a weaker franc to fresh 6-week highs.
EUR/CHF climbed rose more than 70 pips throughout the day and broke through December highs to hit a peak of 1.0953, last seen late September. However, the pair pulled back slightly from highs and it was last trading at 1.0925, recording a 0.44% gain on Wednesday, and rising for fourth day in a row.
Contributing to franc weakness, Swiss National Bank Vice Chairman Fritz Zurbrügg said earlier that the franc remains “considerably overvalued” and the SNB is willing to intervene in currency markets if necessary.
EUR/CHF climbed rose more than 70 pips throughout the day and broke through December highs to hit a peak of 1.0953, last seen late September. However, the pair pulled back slightly from highs and it was last trading at 1.0925, recording a 0.44% gain on Wednesday, and rising for fourth day in a row.
Contributing to franc weakness, Swiss National Bank Vice Chairman Fritz Zurbrügg said earlier that the franc remains “considerably overvalued” and the SNB is willing to intervene in currency markets if necessary.