Swiss Franc Weakens Against Majors
07 January 2025 - 12:33AM
RTTF2
The Swiss franc declined against its major counterparts in the
New York session on Monday, as gains in tech stocks lifted Wall
Street.
Chip Stocks rose as contract electronics giant Foxconn reported
record fourth quarter revenue amid strong AI server demand.
Foxconn is an assembly partner with AI darling and market leader
Nvidia (NVDA), which is jumping by 2.6 percent pre-market
trading.
Sentiment improved after the Washington Post reported that
President-elect Donald Trump may scale back his tariff plans.
After Trump called for "universal" tariffs of as high as 10 or
20 percent on everything imported into the U.S., the Washington
Post said his aides are now exploring plans that would apply
tariffs to every country but only cover "critical imports."
The franc fell to a 6-day low of 0.9410 against the euro and a
4-day low of 1.1332 against the pound, off its early highs of
0.9360 and 1.1283, respectively. The currency is seen finding
support around 0.95 against the euro and 1.15 against the
pound.
The franc retreated to 0.9067 against the greenback and 173.23
against the yen, from its early 1-week highs of 0.9008 and 174.50,
respectively. The next possible support for the franc is seen
around 0.92 against the greenback and 168.00 against the yen.
CHF vs Yen (FX:CHFJPY)
Forex Chart
From Dec 2024 to Jan 2025
CHF vs Yen (FX:CHFJPY)
Forex Chart
From Jan 2024 to Jan 2025
