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    EUR/CHF Edges Higher to 1.0500 as Euro Gains

     

    USDCHF.3.25 resized 600Chart: WorldWideMarkets Alpha Trader

    Euro Swiss made extended gains in Europe to trade above the 1.0500 mark following  after the better than expected results of the German IFO. German Mar IFO Business climate rose to 107.9 versus the forecast of 107.3. (Previously 106.8 in Feb).

    After the sharp decline of the EURCHF rate to 1.0420 yesterday, market participants simply took advantage of the low rates as good buying opportunity from late New York to early Europe. The weaker dollar also gave a further push higher for EURCHF while USDCHF fell.

    Euro continued to make gains against the declining US dollar on comments from the Chicago Fed President Evan who said that U.S. inflation is "too low" and warned that the strong dollar is exerting "clear disinflationary pressure." (10:30 GMT) 

     

    describe the imageChart: WorldWideMarkets Alpha Trader

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