empty
 
 

2023.02.0610:35:00UTC+00Swiss Franc Advances Amid Risk Aversion

The Swiss franc climbed against its major counterparts in the European session on Monday amid risk aversion, as strong U.S. jobs data raised worries that the Federal Reserve could keep hiking rates for longer to control inflation.

The jobs report bolstered the case of two more hikes by the Fed and holding rates higher for longer.

The US military shot down a suspected Chinese spy balloon over the Atlantic Ocean, raising geopolitical tensions.

Beijing said it "is paying close attention to the development of the situation" and "reserves the right to make further necessary reactions".

The United States called off a planned visit to Beijing by Secretary of State Antony Blinken.

The franc strengthened to multi-week highs of 142.95 against the yen and 1.1111 against the pound, off its prior lows of 141.93 and 1.1173, respectively. The franc is poised to find resistance around 148.00 against the yen and 1.10 against the pound.

The franc was up against the euro, at a 4-day high of 0.9941. The franc may test resistance around the 0.97 level.

The franc rose to 0.9227 against the greenback, from an early 6-day low of 0.9281. If the franc rises further, it may find resistance around the 0.90 level.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback