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USD/CHF jumps to test 1-year highs

FXStreet (San Francisco) - Following news that the SNB may be opened to negative rates, the USD/CHF jumped around 60 pips from 0.9325 to test 1-year highs at 0.9385 where the pair found some selling interest.

WSJ reported that the Swiss National Bank may be considering to use negative rates in the short term. “We have always said this is a possibility,” Mr. Moser said in brief remarks to The Wall Street Journal after a panel discussion at an academic conference here. “We’re never shy about it…we always said we would use it if needed,” he said. Nothing new but as Jamie Coleman said in a recent report: "They have no other alternative". Then CHF was sold.

USD/CHF sentiment

Currently, USD/CHF is trading at 0.9379, up 0.51% on the day, having posted a daily high at 0.9383 and low at 0.9318. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is strongly bullish.

In the same line, EUR/CHF is rising for third day on the news. Pair climbed 40 pips from 1.2070 to September's highs at 1.2115. Currently, the pair is trading at 1.2103, up 0.28% on the day, having posted a daily high at 1.2115 and low at 1.2066.

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