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Updated: Thu, 20 Dec 2012 04:31:48 GMT | By thecanadianpress.com

CHF Dollar FX trader

(Action Economics) - 20-Dec-12 08:01 - USD-CHF edged back towards 0.9125 after it ran into light selling pressure into 0.9150 in late Asia.


(Action Economics) - 20-Dec-12 08:01 - USD-CHF edged back towards 0.9125 after it ran into light selling pressure into 0.9150 in late Asia.

Overall, movement is slow after yesterday's rebound from 0.9090 to over 0.9150 as dollar shorts covered on risk aversion.

Sentiment in Europe is relatively stable, leaving the technical backdrop to influence.

There are offers at 0.9160-70 and on the approach of 0.9200, but the recent break lower points to a test of early May lows around 0.9050 and then the 0.9000 area from late April.

EUR-CHF chopped between 1.2075 and 1.2085 since the European open.

The downturn in EUR-USD on Wednesday forced the cross from 1.2100, yet still well within the familar range.

The above expectations Swiss trade surplus justified SNB's continued policy stance, but it did not really impact the FX market.

Copyright Action Economics

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