| Initial jobless claims spike higher, and SNBs Jordan speaks about inflation. The USDCHF has moved sharply lower after SMB's Jordan spoke to more persistent than we thought inflation, and the much higher US jobless claims moved US rates lower and the US dollar lower as well. The USDCHF moved to a swing area between 0.9025 and 0.9035. The 38.2% retracement of the major trading range comes in at 0.90218. Move below each opens the door for further downside momentum on the technical break. |
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