USD/CHF: US rates, SNB policy make this still look like a sensible long trade
- Despite Bernanke’s comments, the market wants to be bullish USD.
- SNB reiterate that they will take steps to counter CHF strength.
- US 10-year rates make strong move higher amid massive volume.
- EUR/CHF closing in on important (long-term) technical resistance at 1.2650.
I’m staying long USD/CHF and still think 1.10 is achievable in coming months.