Quotes from Western Union:
- With the dollar at five-week highs versus the Swissie, give your CHF buyers a call and top priority today. Unhedged CHF buyers have seen costs rise in the wake of the Swiss central bank's surprise decision last month to untie its currency from the euro.
- The move unleashed an enormous rally for the franc that it still hasn't fully surrendered. Expect much uncertainty to remain attached to the CHF currency for the foreseeable future as the dust continues to settle from their about-face on currency policy.
- In the meantime, however, today's market is a better buy for U.S. importers. Currently above 0.94, USD/CHF had weakened below 0.80 after last month's Swiss policy reversal.
