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USD/CHF (current price: 0.9985)
The Swiss Franc has been losing ground compared to the Dollar since the U.S. presidential election. The pair got close to parity once again yesterday following a strongly bullish day. The cross finished with a gain of more than 1% on Monday, which is the biggest daily advance since August. The Swiss PPI came in at a monthly rate of 0.1% in October, missing the consensus estimate of 0.2%. The Franc also lost ground against the Pound, while it remained strong compared to the Yen and the Euro.
Our assessment: USD/CHF is trading just below the crucial 1.00 level this morning. The long-term picture is still neutral, although a bullish break-out could be near.
