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Dollar Trades Near Three-Month High vs. Franc

Published 07/31/2015, 04:58 AM
Updated 07/09/2023, 06:31 AM
USD/CHF
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The U.S. dollar traded near its highest level in three months on Thursday amid the strength of the dollar after the Fed statement and divergence in monetary policy between the Fed and SNB.

The USDCHF is currently trading around 0.9710 after hitting a three-month high at 0.9713, while it opened trading on Thursday at 0.9674.

The dollar gained against major currencies on Wednesday after the Fed statement referred to the progress in the U.S. labor and housing markets, which could prompt policymakers to raise interest rates this year.

On the other hand, the demand on the Swiss franc has retreated due the divergence in monetary policy between the Fed and the SNB.

The SNB has been relying on negative interest rates while reiterated that it may intervene at any time to prevent franc from appreciating, especially amid the recent escalation in the Greek crisis.

The euro also advanced against the franc to trade around 1.0646, while it hit the highest level during the session at 1.0667.

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