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EUR/CHF rallies on intervention rumors

FXStreet (Córdoba) - EUR/CHF spiked to fresh weekly highs during the European session amid rumors of intervention by the Swiss National Bank.

Market chatter the SNB is unofficially buying at 1.2050 has lifted EUR/CHF to 1.2089 from a low of 1.2052. At time of writing, EUR/CHF is trading at 1.2075, 0.12% above its opening price.

The SNB placed a floor for EUR/CHF at 1.2000 back in September 2011 aimed to prevent further appreciation of the franc as the Eurozone economic crisis intensified.

Meanwhile, USD/CHF advanced to a daily high of 0.9592, stalling a few pips ahead of yesterday’s highs and the 0.9600 level.

What’s the sentiment around EUR/USD today? – Commerzbank and OCBC Bank

The shared currency remains on the back footing on Wednesday, intensifying the weekly decline following poor results from today’s PMIs and ahead of tomorrow’s ECB gathering....
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