The Swiss franc was trading on Wednesday in sight of 15-months highs against the dollar as persistent expectations of low US interest rates hit the greenback across the board. "Dollar/Swiss franc remains heavy and has potential to test parity in the near term," forex analysts at Credit Suisse said in a research note. The franc was up 0.3 percent against the dollar at 1.0185 per dollar against 1.0215 in late New York trading.
The franc hit a peak of 1.0177 earlier in the day, its highest since mid-July 2008. Analysts at UBS said the dollar was under heavy downward pressure against the Swiss franc. The said a decisive break below 1.0189 would open the way to a dollar slide to 1.0138. Resistance was seen at 1.0359. The Swiss currency was flat against the euro, trading at 1.5175. "Price action is sideways with an upside bias towards the 1.5240 high," said Credit Suisse. "Key support lies at 1.5077."
Comments
Comments are closed.