FOREX: Greenback Extends Decline Amid Equities Reversal, CHF Surges Further
Apr-10 15:44
- Broad greenback weakness really gathering steam right now, allowing EURUSD to reach the 1.12 handle for the first time since September last year. Importantly there are a cluster of daily highs around this mark, most notably at 1.1214, the Sep 25 high which is just being tested. Above here, 1.1276 represents the 2023 highs for the pair.
- Meanwhile, it is the Swiss Franc which continues to screen as the best performing currency in G10, now up 3.6% against the dollar. USDCHF has broken the prior 0.8333 lows and downside momentum has been exacerbated. The pair currently trades at fresh ten-year lows of 0.8261.
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