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EUR/CHF Sees Biggest Weekly Drop in 4 Months

Forex
Daily FX
EUR/CHF Sees Biggest Weekly Drop in 4 Months, EUR/USD Weakens on Dollar Strength
Friday July 27, 4:36 pm ET
By Kathy Lien, Chief Strategist strategist@dailyfx.com

Over the past 2 days, the Swiss franc has rallied significantly against the Euro as a direct result of the currency?s own safe haven status. The KoF report of leading indicators was stronger than expected which has also helped, but the move in the currency pair began on Thursday. In the week ahead, we have the UBS consumption indicator and PMI from Switzerland.

Both are expected to remain strong, illustrating the overall health of the economy. The Euro on the other hand has weakened for no other reason than dollar strength. There are a ton of PMI, unemployment and consumer spending reports due out next week, which could lead to some Euro drive action.


Related articles:
  • Euro Rebounds on Dollar Weakness
  • Euro Slips Back Towards 1.40
  • Euro Headed Towards 1.40?
  • Euro Breaks Out, Headed Towards All Time Highs
  • Australian and New Zealand Dollar Raises
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