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2 May 2013
Forex: USD/CHF jumps to 0.9340 on Draghi
FXstreet.com (Barcelona) - Following the market sentiment after talks of negative deposit rates by ECB’s Draghi at the press conference, the USD/CHF jumped to 0.9340, retracing enough of the weekly losses to only erase last week’s gains.
When questioned about negative rates, Draghi said the ECB is technically ready for negative deposit rates. Policymakers stand ready to act if needed. Incoming data and developments will help the central bank to decide next moves.
“The USD/CHF currency pair continues moving inside a descending channel. We think, today the price may attempt to return to the level of 0.9330 and then start another descending structure towards the target at 0.9200”, wrote Roboforex.com analyst Igor Sayadov.
When questioned about negative rates, Draghi said the ECB is technically ready for negative deposit rates. Policymakers stand ready to act if needed. Incoming data and developments will help the central bank to decide next moves.
“The USD/CHF currency pair continues moving inside a descending channel. We think, today the price may attempt to return to the level of 0.9330 and then start another descending structure towards the target at 0.9200”, wrote Roboforex.com analyst Igor Sayadov.