USD/CHF spikes and retreats after US data

FXstreet.com (Córdoba) - The USD/CHF saw quick spike after the Philly Fed manufacturing index came out stronger than expected, boosting the USD across the board.

USD/CHF spike short-lived

However, USD/CHF is back to pre-data levels as the greenback is having a hard time finding momentum as indicators correct from overbought levels following the sharp USD rally. At time of writing, USD/CHF is trading at the 0.9295/0.9300 area, where it records a 0.2% gain on the day and having hit a 10-day high of 0.9360 during the European trade.