The USD/CHF pair rose on Wednesday, as the Dollar was bought in general during the session. The market is in a “safety trade” mode, and the CHF is no longer considered a decent proxy for safety as the Swiss National Bank is willing to devalue the currency by any means necessary. We like buying this pair on dips, as there seems to be a never-ending supply of bad news that sends traders looking for safety. We cannot sell – we don’t fight central banks.
Written by FX Empire