Swiss Economicblogs.org
With the dismal jobs reports, speculators had to buy euro to cover their shorts (mostly against USD, but also against CHF). This led to a rising EUR/CHF on Friday. Today fundamental rules were valid again: In times of slow growth, the Swiss franc appreciates. Hence EUR/CHF was down by 49 bips. After the shellacking it took after the shockingly poor jobs data, the US dollar has only managed a shallow recovery...
Read More »FX Daily, June 6: Shallow Bounce in Dollar, though Sterling Pressured by Brexit Polls
