FOREX TradingCharts.com

Forex News: Swiss Franc Weakens On Brexit Deal Expectations

Swiss Franc Weakens On Brexit Deal Expectations

12/24/2020 - 08:58:00 (RTTNews)

(RTTNews) - The Swiss franc depreciated against its major rivals in the European session on Thursday, as investor sentiment lifted up following reports that Britain and the European Union were on the brink of striking a trade agreement after a compromise on fishing rights.

Officials are finalizing the details of a deal in Brussels, with an announcement due today.

Irish foreign minister Simon Coveney told RTE Radio that there was "some sort of last-minute hitch" as both sides finalize the text of the agreement on fishing rights.

The two sides have agreed to a new five-and-a-half year transition period on fishing rights, which will cut the EU's fishing quota by a quarter.

A deal would end the likelihood of the two sides imposing border checks and import taxes on each other's goods from next year.

The franc weakened to 0.8905 versus the greenback, from a high of 0.8869 hit at 9:30 pm ET. If the currency falls further, 0.92 is likely seen as its next possible support level.

The franc reversed from an early high of 1.0816 versus the euro, with the pair trading at 1.0856. On the downside, 1.10 is possibly seen as its next support level.

The franc edged down to 116.37 versus the yen, after rising to a 2-day high of 116.78 at 7:45 pm ET. The currency is poised to face support around the 119.00 region.

Data from the Bank of Japan showed that Japan's services producer prices declined for the second straight month in November.

The services producer price index dropped 0.6 percent annually, following a 0.5 percent decrease a month ago.

The Swiss currency dropped to more than a 3-week low of 1.2101 against the pound from yesterday's closing value of 1.1979. The currency is likely to target support around the 1.24 level.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Mixed After U.S. Retail Sales Data (04 hr(s), 51 min(s), 09 sec(s) ago)
(RTTNews) - The U.S. dollar showed mixed trading against its major counterparts in the European se ...Full Story»

Dollar Little Changed After U.S. Retail Sales Data (06 hr(s), 03 min(s), 09 sec(s) ago)
(RTTNews) - After the release of U.S. retail sales and producer price index for December at 8:30 a ...Full Story»

Dollar Rises Ahead Of U.S. Retail Sales Data (06 hr(s), 06 min(s), 09 sec(s) ago)
(RTTNews) - The U.S. retail sales and producer price index for December are due at 8:30 am ET Frid ...Full Story»

Pound Drops Amid Falling European Shares (07 hr(s), 15 min(s), 09 sec(s) ago)
(RTTNews) - The pound fell against its major counterparts in the European session on Friday, as wo ...Full Story»

Euro Falls Vs Most Majors After ECB Minutes (06 hr(s), 57 min(s), 08 sec(s) ago)
(RTTNews) - The European Central Bank has published the account of the monetary policy meeting of ...Full Story»

Euro Mixed Ahead Of ECB Minutes (07 hr(s), 06 min(s), 09 sec(s) ago)
(RTTNews) - At 7.30 am ET Thursday, the European Central Bank is slated to release the account of ...Full Story»

Indian Rupee Hits 10-day High Against U.S. Dollar (08 hr(s), 09 min(s), 09 sec(s) ago)
(RTTNews) - The Indian rupee strengthened against the U.S. dollar in the evening session on Thursd ...Full Story»

Dollar Higher As Yields Surge On Stimulus Prospects (11 hr(s), 36 min(s), 09 sec(s) ago)
(RTTNews) - The U.S. dollar was higher against its major counterparts in the Asian session on Thur ...Full Story»

Search

FOREX NEWS

Dollar Mixed After U.S. Retail Sales Data

01/15/2021 - 09:42 AM (RTTNews)
(RTTNews) - The U.S. dollar showed mixed trading against its major counterparts in the European se ...Full Story>>

Dollar Little Changed After U.S. Retail Sales Data

01/15/2021 - 08:32 AM (RTTNews)
(RTTNews) - After the release of U.S. retail sales and producer price index for December at 8:30 a ...Full Story>>

Dollar Rises Ahead Of U.S. Retail Sales Data

01/15/2021 - 08:28 AM (RTTNews)
(RTTNews) - The U.S. retail sales and producer price index for December are due at 8:30 am ET Frid ...Full Story>>

Pound Drops Amid Falling European Shares

01/15/2021 - 07:19 AM (RTTNews)
(RTTNews) - The pound fell against its major counterparts in the European session on Friday, as wo ...Full Story>>

Euro Falls Vs Most Majors After ECB Minutes

01/14/2021 - 07:36 AM (RTTNews)
(RTTNews) - The European Central Bank has published the account of the monetary policy meeting of ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.