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USD/CHF backs away from 2014 high

FXStreet (Córdoba) - USD/CHF retreated from fresh 2014 highs scored yesterday and filled the weekly opening gap, snapping a 5-day winning streak.

USD/CHF reached a peak of 0.8690 Monday amid broad USD strength and staged a limited correction that was contained by the 0.9625 zone at the beginning of the European session, giving way to a rangebound phase. Having spent the last hours in a slim range, the pair is currently trading at 0.9635, still down 0.23% on the day.

As for EUR/CHF, the pair reversed early gains and turned intraday negative, falling to a daily low of 1.2051 in recent dealings. EUR/CHF remains close to its 2014 low of 1.2043 scored in September and not far from the SNB floor of 1.20.

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