The Swiss National Bank (SNB) listed the dollar at 0.8245 francs in its Oct. 21 reference rate, while FXStreet reported that United Overseas Bank (UOB) still sees 0.8200 as a possible level.
UOB senior technical strategist Quek Ser Leang and economist Sue Ann Lee saw a possible decline to 0.8200 francs per dollar over one to three weeks if the rate stayed below 0.8290, according to FXStreet’s account of their analysis. A lower dollar-franc rate means each dollar buys fewer francs.
For their Oct. 21 assessment, the analysts gave a 24-hour trading range of 0.8225 to 0.8270 francs per dollar, FXStreet reported. That range covers a shorter period than the outlook for a possible move to 0.8200.
FXStreet put the preceding session’s low at 0.8220 francs and its close at 0.8246, down 0.23%. The outlet reported that UOB’s assessment of downward momentum was unchanged after the dollar fell and then recovered some ground.
The reported 0.8246 close and the SNB’s 0.8245 reading describe different measures: one is a session close, and the other is a reference rate for Oct. 21. Their proximity does not establish that they were recorded at the same time.
UOB also identified 0.8200 in an earlier outlook covered by EconoTimes on Oct. 19. That report described the same one-to-three-week horizon. The dollar’s subsequent move to 0.8220 brought it closer to the level without reaching it.
The SNB held its policy rate at 0% on Sept. 24 and said earlier franc depreciation was supporting Swiss economic activity. It also left open the option of currency-market action.
The SNB is scheduled to release a summary of its monetary policy discussion on Oct. 22 at 3:30 a.m. ET (07:30 UTC). Its next policy assessment is scheduled for Dec. 10.
