Wednesday, 29 Dec 2010

Swiss Franc Moves Up Across the Board

The Swiss franc made gains against virtually all of its main currency rivals today, following a better than expected KOF Economic Barometer. Against the Japanese yen, the CHF has moved up more than 25 pips today. Currently the pair is trading around the 86.40 level. Against the euro, the franc remaines near its record highs. The EUR/CHF pair has already dropped more than 50 pips today, to its current level of 1.2463.

Turning to the rest of the day, with no significant news on tap, the markets will maintain their low liquidity state. That being said, it is important for traders to always remember that dramatic price changes can occur in situations like this for seemingly no reason. It is important to pay attention to the main currencies and commodities, so as not to unnecessarily lose money.