Swiss Franc: Range trading persists against US Dollar – UOB
United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann note that USD/CHF remains locked in a tight range, with intraday expectations between 0.8315 and 0.8350. For the 1–3 weeks horizon, they see the Dollar trading within 0.8295/0.8365, citing tentative momentum. Over 1–3 months, they expect further rebound but not enough strength to revisit the July peak.
Swiss Franc (CHF) and the US Dollar (USD) continue to trade within a narrow range, as noted by United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann. The pair is expected to hover between 0.8315 and 0.8350 over the short term. UOB anticipates a potential rebound within a week, but not a significant surge to breach the July peak level.
After USD reached a two-day high of 0.8350, UOB expressed concerns that the sharp rise may be excessive, and USD is unlikely to climb further. The bank had previously predicted the pair would trade between 0.8320 and 0.8355. Indeed, USD traded within this range, closing at 0.8323, indicating a 0.25% decline.
The current trading pattern is consistent with an ongoing range-trading phase, with the bank forecasting USD to remain between 0.8315 and 0.8350. This assessment has not changed since their previous forecast, which was made last Friday when USD was at 0.8310. Additionally, UOB's outlook for AUD/USD remains firm near 0.7000, supported by China's mixed inflation and positive trade data.
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