Swiss Franc Rallies Against Majors
December 29 2023 - 3:10AM
RTTF2
The Swiss franc moved up against its major counterparts on
Friday ahead of the New Year's weekend.
The day's economic calendar remains light, with a report on
Chicago-area business activity awaited later in the day.
Next week, investors await reports on manufacturing and service
sector activity as well as the minutes of the latest Federal
Reserve meeting and nonfarm payrolls for more direction.
In economic news, Swiss KOF leading index rose to an eight-month
high in December.
The KOF economic barometer advanced to 97.8 in December from
revised 97.2 in November. This was the highest reading since April
and also stayed above economists' forecast of 97.0.
The franc advanced to 0.8356 against the greenback, 1.0645
against the pound and 0.9257 against the euro, off its early lows
of 0.8448, 1.0764 and 0.9346, respectively. The currency is poised
to find upside target levels around 0.82 against the greenback and
1.01 against the pound.
The franc firmed to a 4-week high of 169.31 against the yen,
from an early 2-day low of 167.18. The next possible upside target
for the currency is seen around the 170.5 level.
CHF vs Yen (FX:CHFJPY)
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CHF vs Yen (FX:CHFJPY)
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From Jul 2023 to Jul 2024
