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EUR/CHF reaches 23-month lows

FXStreet (Córdoba) - EUR/CHF broke below 1.2050 and dropped to 1.2042, reaching the lowest price since November 2012. The pair remains near the lows consolidating modest losses but relatively important that could lead to the lowest daily close in almost two years.

Movements in EUR/CHF started after a report suggested that Eurozone central bankers will challenge Draghi’s leadership. Both currencies, the euro and the Swiss franc rose across the board.

The slide of the pair brought the price closer to the 1.20 floor established by the Swiss National Bank in 2011. Further declines could increase speculations about a possible intervention in the market to push EUR/CHF to the upside.

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