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Swissie Underperforms

CHF

The Swiss franc lags all of its G10 peers at the start to the week, but it is hard to pin its weakness on any specific catalyst.

  • USD/CHF re-opened higher before trimming the bulk of initial gains. The rate last sits +11 pips at CHF0.9253. Above the CHF0.9300 mark would expose Apr 7 high of CHF0.9322. Bears keep an eye on Apr 8 low of CHF0.9233.
  • EUR/CHF sits +11 pips at CHF1.1011, after re-opening at the session high of CHF1.1041. Apr 1 high of CHF1.1118 provides the initial bullish target, while bears look for a dip through Apr 9 low/50-DMA at CHF1.0993/84.
  • Switzerland's economic docket is fairly light this week, includes a speech from SNB's Maechler (Thursday) as well as producer & import prices (Friday).
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