Currency Alerts
11/25/2009 9:29 PM ET
(RTTNews) -
The Swiss franc edged sharply higher against its major rivals on Thursday morning in Asia as traders continued to ponder over yesterday's remarks by the Swiss National Bank President Jean-Pierre Roth that the central bank may soon start withdrawing stimulus as the global economy recovers.
The Swiss franc soared to 0.9951 against the US dollar by 9:00 pm ET, the highest level since April 16, 2008. If the franc gains further, resistance is likely to be seen near the 0.989 level. The dollar-franc pair, which closed Wednesday's New York trading at 0.9967, is presently quoted at 0.9972.
Against the euro, the franc surged up to 1.5033 at this time and this set the highest mark for the alpine unit since late June. On the upside, the domestic currency is likely to find resistance near the 1.501 level. The euro-franc pair was worth 1.5083 at Wednesday's close.
The franc climbed to a monthly high of 1.6623 against the pound around 9:00 pm and this may be compared to Wednesday's North American session closing value of 1.6652. The next upside target for the Swiss currency is seen around the 1.654 level.
Bouncing back from yesterday's 2-day low, the Swiss franc ticked higher to 87.88 against the Japanese yen by 9:05 pm ET. The franc-yen pair is currently trading near Wednesday's New York session closing value of 87.69.
by RTT Staff Writer
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