USD/CHF trims gains as US dollar loses strength

USD/CHF moved off session highs during the last hours as the US dollar retreated across the board amid a recovery in US stocks. The Dow Jones is now flat for the day after erasing losses.

Greenback reached fresh lows versus most currencies while crude oil rebounded to the upside, with the WTI barrel rising back above $49.00 and gold prices trimmed gains and pulled back toward $1280.

USD/CHF still up on weak CHF

The Swiss franc is today among the worst performers in Europe. It is falling versus the euro and the pound after rising sharply last week. Despite the recent recovery is among the few currencies to be down against the US dollar.

USD/CHF currently trades at 0.9660, up 20 pips from Friday’s closing price. Earlier the pair rose to 0.9678, hitting the strongest level in six days. The pair spiked hiker after breaking 0.9660. So far, greenback has been unable to clearly consolidate above the mentioned level; if it holds on top, it would leave doors open for further gains.