USD/CHF fails to hold gains despite SNB

FXStreet (Córdoba) – USD/CHF turned lower and fell sharply during the last hours despite the Swiss National Bank confirmed it had intervened to stabilize the franc as concerns of a potential Grexit boosted demand for the Swiss currency.

USD/CHF climbed to a high of 0.9427 during the European session but failed to sustain gains and dropped all the way back to the 0.9310 area afterward. At time of writing, the pair is trading at 0.9314, down 0.28% on the day.

EUR/CHF resumes fall after SNB-propelled spike

EUR/CHF left a huge gap at the weekly opening, but with the help of the SNB it climbed around 130 pips to a high of 1.0438 during the European trade. But franc demand revived over the last hours, dragging EUR/CHF yo the 1.0360 zone, where it trades 0.60% below its Friday’s close.

USD/CHF turned lower and fell sharply during the last hours despite the Swiss National Bank confirmed it had intervened to stabilize the franc as concerns of a potential Grexit boosted demand for the Swiss currency.

(Market News Provided by FXstreet)