FXStreet (Córdoba) – USD/CHF dropped further during the American session amid a stronger Swiss franc that climbed across the board. The pair printed a fresh daily low at 1.0257 and then bounced to the upside. Near the end of the day it was trading at 1.0275/80.
Greenback is losing ground on Monday versus the Swissy after a 3-day rally, when it accumulated gains of more than a hundred pips.
USD/CHF: Highest monthly close since 2010
The pair is about to end the month with a gain of more than 400 pips, the best performance since September 2011 and the first close above the parity level in five years.
Ongoing expectations of a rate hike in the US boosted the US dollar while the Swiss franc accelerated the decline after Mario Draghi signaled almost a month ago that the European Central Bank would re-examine its monetary policy in December, which triggered speculations about a rate cut and an extension in the purchase program.
(Market News Provided by FXstreet)