FX closing levels for the week: USD/CHF continues to bleed
The Good Friday holiday ensured it would be a quieter day than most this year but it wasn’t exactly quiet in the FX market. There were some decent moves on the day on Friday and the general theme remained USD selling.
The brunt of it came via USD/CHF, which dropped another 35 pips. The pair is in the middle of the weekly range after hitting a 10-year low last Friday. It’s consolidating just off those lows and the lack of a bounce isn’t exactly inspiring.
There are some hopes for progress in some US trade negotiations over the long weekend so keep an eye out for news.
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