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2 Jan 2014
USD/CHF rallies stronger after US PMI print
FXstreet.com (London) - USD/CHF has rallied strongly on the day, breaking above 0.9000 to CHF0.9010.
Risk on after US PMIs
The Markit US manufacturing purchasing managers’ index rose to an 11-month high, indicating solid improvement in business conditions. The December PMI came in at 55.0, up from 54.7 in November and above the earlier flash estimate of 54.4. The Markit index showed that production in the manufacturing sector continued to rise strongly in December. The rate of growth was well above the series average and the fastest since March 2012.
The dollar has rallied strongly against the Swiss franc throughout the session on a global risk-on trade thanks to strengthening economic news in Europe and the US.
Strong USD/CHF gains
USD/CHF has gained 0.97 percent to CHF0.9010 after opening at CHF0.8907. The pair hit a high of CHF0.9028 on the release of the Markit index.
Risk on after US PMIs
The Markit US manufacturing purchasing managers’ index rose to an 11-month high, indicating solid improvement in business conditions. The December PMI came in at 55.0, up from 54.7 in November and above the earlier flash estimate of 54.4. The Markit index showed that production in the manufacturing sector continued to rise strongly in December. The rate of growth was well above the series average and the fastest since March 2012.
The dollar has rallied strongly against the Swiss franc throughout the session on a global risk-on trade thanks to strengthening economic news in Europe and the US.
Strong USD/CHF gains
USD/CHF has gained 0.97 percent to CHF0.9010 after opening at CHF0.8907. The pair hit a high of CHF0.9028 on the release of the Markit index.