Day: March 24, 2020

March 24
2020

Swiss Franc Extends Fall Against US Dollar on SNB Interventions

The Swiss franc is slumping on Tuesday as the central bank continues to intervene in foreign exchange markets and control the value of the currency. Despite being a conventional safe-haven asset for global investors, the franc’s appeal might diminish as the nation potentially slips into a recession. Last week, the Swiss National Bank (SNB) confirmed that it would escalate its foreign currency acquisitions to prevent the further rise in the franc. With the COVID-19 global pandemic decimating […]

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March 24
2020

Pound Rallies on Upbeat Sentiment Despite Mixed UK PMI Prints

The pound Sterling today posted gains against the US dollar ignoring the weak UK PMI data points released by Markit Economics in the early Londo session. The GBP/USD steadily inched higher from the new multi-year highs posted on Last week as the British government’s lockdown measures had a positive impact on investor sentiment. The GBP/USD currency pair today rallied from an initial low of 1.1578 in the Asian session to a high of 1.1790 in the early American […]

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March 24
2020

AUD/JPY Could Reach 67.03

The Australian dollar versus the Japanese yen currency pair may be heading towards the north. Is this just a bearish opportunity to get better shorting prices? Long-term perspective From the peak of 76.54, after the price confirmed 76.02 as resistance, a strong depreciation took place, one that crossed important support levels without much difficulty. The fall was so pronounced that, aside from gapping, it printed the low […]

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