USD/CHF sinks to lowest levels since February 2021 | Forexlive
The euro and franc have been recent standout performers and a large part is to do with the fact that their respective central banks are still on the more aggressive side when it comes to tightening policy. After the US CPI data yesterday, it seems like markets are convinced that the Fed only has one more rate hike to go and the dollar is being punished for that.
USD/CHF is now down 0.5% to 0.8915 and that is its lowest level since February 2021:
The pair is dropping under minor support at around 0.8925-30 and a break below that would bring into question key support closer to 0.8800 next. That will be one major line in the sand as anything under that will be compared to the sharp plunge that we saw in 2015 amid the whole SNB fiasco, when they pulled the rug on the EUR/CHF floor.