The market sentiment was positive to risky currencies today, driving the Swiss franc down against its most-traded counterparts.
Global stocks around the world rallied during the Monday’s trading session, indicating that speculators favored assets with high yield. The likely reason for the traders’ optimism was the rally of crude oil prices. Safe currencies, like the Swiss franc and the Japanese yen, usually struggle to find demand when market participants feel confidence and desire to risk.
USD/CHF was up from 0.9691 to 0.9737 intraday, though it backed off to 0.9701 as of 13:46 GMT today. EUR/CHF rallied from 1.0847 to 1.0873.
If you have any questions, comments or opinions regarding the Swiss Franc,
feel free to post them using the commentary form below.