Today SNB’s Jordan said the Swiss Franc is overvalued. Today the CHF is up against all of its major counterparts. Technical Picture Today safe haven currencies reign supreme in FX land and CHF is winning the battle. When its risk off mode there are normally three assets to look at Gold, JPY and CHF if you like you can also look at fixed income markets. Today USD/JPY is 0.23% lower, Gold is 0.47% higher and USD/CHF is 0.30% lower. To take it one step further I often look at CHF/JPY this will let me know where cash may be flowing to. It’s marginal but CHF/JPY is 0.09% stronger on the day making the CHF the strongest Only the Kiwi dollar is holding up against the Swiss Franc and this is after the RBNZ left rates unchanged when the market had expected a 0.25bps cut. Earlier on in the session, Swiss National Banks Jordan stated that “readiness for intervention still necessary” he also added “The situation on foreign exchange markets remains fragile, Swiss franc remains highly valued.” CHF/JPY Daily Chart As you can see from the daily chart below, the pair are now in a wedge pattern consolidation phase and CHF just broke out to the upside only to be pulled back in the pattern. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US CPI: This month’s reading won’t change the calculus for the Fed in the near-term – TDS FX Street 3 years Today SNB's Jordan said the Swiss Franc is overvalued. Today the CHF is up against all of its major counterparts. Technical Picture Today safe haven currencies reign supreme in FX land and CHF is winning the battle. When its risk off mode there are normally three assets to look at Gold, JPY and CHF if you like you can also look at fixed income markets. Today USD/JPY is 0.23% lower, Gold is 0.47% higher and USD/CHF is 0.30% lower. To take it one step further I often look at CHF/JPY this will let me know where cash may… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
