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Franc Gains on USD as Traders Return to Safe-Havens
Friday, 13 Jan 2012
The Swiss franc moved up against most of its main currency rivals on Thursday, as investors returned to safe-haven currencies following disappointing US economic news. The USD/CHF tumbled following the release of the US Retails Sales and Unemployment Claims figures. Similarly, the EUR/CHF maintained its overall bearish trend.
Today, traders will want to pay attention to US economic indicators, specifically the Trade Balance and Prelim UoM Consumer Sentiment figures. Should either of them disappoint and come in below expectations, the franc may see another bullish day to close out the week.
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