Swiss Franc's appeal to shelter
The Swiss Franc has emerged as one of the top performers against the US dollar in 2023 as declining rate expectations in the US and safe-haven appeal of the franc influence the fundamental landscape. The franc has appreciated around 4.4% against the dollar in 2023 thus far, with the trend likely to continue should the US receive softer fundamental data – possibly starting this week with the NFP print and next week with the latest CPI data.
Adding to the bullish CHF outlook is its safe-haven appeal amidst the recent flare up in the US banking sector as two more potentially troubled lenders have emerged after JP Morgan absorbed First Republic Bank. The domino effect has led to massive declines in the respective share prices of PacWest Bancorp and Western Alliance, in a week filled with volatility.
GBPCHF BUY 1.1270 - 1.1240 💯💯
✅𝖳𝖯1 1.1320
✅𝖳𝖯2 1.1370
✅TP3 1.1420
🛑𝖲𝖫 1.1200
Adding to the bullish CHF outlook is its safe-haven appeal amidst the recent flare up in the US banking sector as two more potentially troubled lenders have emerged after JP Morgan absorbed First Republic Bank. The domino effect has led to massive declines in the respective share prices of PacWest Bancorp and Western Alliance, in a week filled with volatility.
GBPCHF BUY 1.1270 - 1.1240 💯💯
✅𝖳𝖯1 1.1320
✅𝖳𝖯2 1.1370
✅TP3 1.1420
🛑𝖲𝖫 1.1200
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Hit TP1 +50pips ✅
