With nothing more than choppy trading offered from the usually active EUR/USD today in Asia, the usually quiet Swiss Franc stepped up and decided to take center stage. With most traders already set in their Euro positions ahead of the weekends EU meeting on the credit crisis, the EUR/USD meandered sideways in what was a rather quiet 45 pip or so range. The lack of data and any front-page news did nothing to help this stagnant situation in the markets, but a stop loss run in the Swiss Franc was able to perk ears up quickly. Out of nowhere, the CHF currency exploded, with EUR/CHF collapsing from 1.2310 to lows just under 1.2210 while the USD/CHF slipped from 0.8920 to a bottom at 0.8845 on what was noted as massive stop loss triggering. This was the show stealer of the day, and the affected pairs have slowly regained footing since and have moved off of the sessions highs in the Swiss Franc.
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Asia Session: Swiss Franc Roars, Euro Snores
Published 10/21/2011, 05:25 AM
Updated 05/18/2020, 08:00 AM
Asia Session: Swiss Franc Roars, Euro Snores
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