Intraday Market Thoughts

Archived IMT (2009.02.19)

by Ashraf Laidi
Feb 19, 2009 10:59

Swiss Franc extends losses across the board after the Swiss Govt supports UBS to release the names of US clients suspected of tax fraud. While the JPY is falling against all major currencies, it is the Swiss franc that is the biggest loser of G10 currencies. With the Norwegian krone, Aussie and sterling leading the top of best performers, AUDCHF, GBPCHF and NOKCHF are posting hefty gains. USDCHF hits a 9-week high at 1.1783, coinciding with the 76% retracement of the 1.22-1.037 decline. EURCHF surges to 1.49, eyeing the 1.4970.


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