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USD/CHF Slides to 0.9615 on SNB Record Loss in 1st Half 2015

Posted by Chris Advincula on Jul 31, 2015 7:23:00 AM

The Swiss National Bank posted a record SFR 50.1 Billion Loss in the first half of 2015 stemming from losses following the removal of the currency cap back in January which raised doubts on the central bank's ability to pay dividends to its shareholders.

There was swiss franc buying against the US dollar from 0.9700 in the prior Asian session and further swiss franc buying interest in Europe to 0.9615 (-85 pips) on speculation of lesser chances of intervention from the Swiss National Bank in the short term future.

The EURCHF rate also continued to fall in Europe to dip to the intraday low of 1.0530 from the toppish level of 1.0600 in the prior NY and Asian high. The EURCHF made a modest rebound to 1.0570 in Europe following the better-than-expected Eurzone HICP July Core inflation of +1.0% versus the median forecast of +0.8%.

SF.7.31 resized 600 

EURCHF.7.31 resized 600

Charts: WorldWideMarkets Alpha Trader

Topics: USDCHF, swiss national bank, EURCHF, forex trading, European Session, SNB, Fundamental Analysis

 

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