Forex: USD/CHF – Up 80 pips so far intraday
iNVEZZ.com Monday July 15th: The dollar has been climbing against the Swiss franc so far today, with the pair reaching 0.9518 for a gain of more than 80 pips since Friday, when the quote fell to 0.9437.
The CHF has found little support in a trade update from the Swiss Federal Statistical Office at 08:15 BST today.
Producer and import prices increased by 0.1 percent in June m/m, matching forecasts and versus May’s 0.3 percent drop.
On an annual basis producer and import prices climbed as had been forecast by 0.2 percent, following a 0.2 percent fall in May.
The dollar was lower against the franc and other peers last week after the US Federal Reserve chairman Ben Bernanke opined on Wednesday that the US economy still needed monetary stimulus.
Bernanke said the Fed will continue to maintain accommodative monetary policy ‘for the foreseeable future’, citing low levels of inflation and an unemployment rate which at 7.6 percent remains far from the Fed’s target of 6.5 percent.
US retail sales and the Empire State Manufacturing Index are due out at 13:30 BST today.