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Forex Flash: All eyes on USD/CHF as European economies eyed – UBS

FXstreet.com (Barcelona) - The recent price action surrounding the EUR/CHF has the renewed weakness of the franc this week - at a time when the dataflow has showed the Eurozone's largest economy clearly slowing – may reflect concerns about Germany as much as unsubstantiated speculation about the SNB's exchange rate regime.

“Investors should therefore pay close attention to the franc. Further declines in Switzerland's currency would show that Germany and the rest of the stronger core economies in Europe are being adversely affected by the Eurozone's weaker peripheral members.” writes the UBS Research Team.

If the USD/CHF in particular breaks through key resistance levels between 0.95-0.9600 it would point to the greenback making gains now against the healthier core European economies and not just the Eurozone overall. “That would be a bullish development for the greenback.” they add.

Forex: EUR/USD NY session fall reaches 1.3000

US money flows pulled the EUR/USD from 1.3094 highs after the release of US jobless claims data and the continuing drop reached as low as 1.3001 after the New York opening.
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Forex Flash: Italian maelstrom calms with likely vote of confidence – Deutsche Bank

In Italy, the center-left politician Enrico Letta was nominated by the President to be Italy's next prime minister. Letta said he would start talks to form a broad-based coalition on today and it is likely to go to parliament for a vote of confidence by early next week.
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