Forex: USD/CHF plunges to four-month low

on Jun 13, 2013

The pair opened the Asian session today at 0.9198 and has subsequently consolidated to 0.9129 in European trading so far. The quote haven’t been traded as low since February this year.

During yesterday’s trading hours USD/CHF maintained its three-day downtrend and fell to 0.9172 daily low.
The quote was influenced yesterday by the Monthly Budget Statement of the US Financial Management Service Office, a summary of accounting reports by federal entities, disbursing officers and Federal Reserve Bank reports. The document showed that US budget deficit had widened to USD139 billion in May, which is 11 percent higher compared with May 2012.
This morning at 08:15 BST the Swiss Producer and Import Prices data were released. Prices fell 2.0 percent year on year in May. This compared with expectations for a 0.3 percent rise. The Federal Statistical Office the fall in prices was unexpected and was due to a drop in prices for crude oil and petroleum products.

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CHF Forex