Forex | Forex | Forex: USD/CHF falls to 1.0820, intra-day low (31/07/2009 11:32:00)

Forex: USD/CHF falls to 1.0820, intra-day low

Fxstreet.com (Barcelona) – After rejecting at intra-day high at 1.0890 in the early European morning, USD/CHF has fallen around 70 pips to post intra-day low at 1.0820. Currently the pair is trading around 1.0820/30, posting 0.50% daily losses from opening price.

The ecPulse.com analysis team comments about today's indicators and its relation with the Greenback: “The U.S. economy is scheduled to release its second quarter advanced GDP, in which expectations show the contraction narrowing down to -1.5%, from the prior quarter of -5.5%, this means that the economy is behind the global recession, which was beginning to show some recovery. Bright projections, caused risk appetite to rise in the markets, which pushed investors to buy higher yielding currencies whilst selling lower yielding currencies. As a result of this, the dollar depreciated versus major currencies."
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