Intraday Market Thoughts

Archived IMT (2009.06.18)

by Ashraf Laidi
Jun 18, 2009 10:12

GBCHF shows the biggest move (downward) due to BROAD CHF STRENGTH after an unexpected decline in UK retail sales and the Swiss National Bank said it has achieved the aim of its franc-selling intervention. Further risk aversion should also help CHF. GBPCHF eyes 1.7420, followed by 1.72 as medium term target. EURCHF risks breaking below 1.50 to 1.4930. GBPUSD eyes $1.6170.


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