Others/Trade Ideas

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.

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