Switzerland Industrial Production (QoQ): 1.7% in 4Q
Apr 8, 2013
Forex: USD/CHF erases gains to trade at 0.9347/49
The GBP/USD has inched lower Monday, on the heels of a disappointing Swiss data release during European trading. Having topped out at the 0.9361 (session high) earlier today, the pair has now moved into negative territory, erasing its gains to operate at 0.9347/49 in these moments.
Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that the yen has continued to weaken in the Asian trading session with USD/JPY rising to an intraday high at 98.85 and moving ever closer to the psychologically important 100 level which last held on a sustainable basis prior to Lehman´s collapse in September 2008 when the Fed´s funds rate was still held above 2.00%.