USD Trading Outlook (07-09-2011)
U.S. Dollar Trading (US) an historic day in currency markets with the Swiss National Bank intervening by placing a lower limit on the EUR/CHF at 1.2000. The immediate effect was a move from 1.12 to 1.21 on the EUR/CHF and this helped the USD/CHF from 0.7900 to 0.8500. Stocks markets globally welcomed the move and in US data ISM Services at 52.7 vs. 53.3 previously. Looking ahead, FED Beige Book released.
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