Swiss Franc gained 3.5 percent in the past month

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Foreign Exchange Overnight/Morning Ranges:

Rate EUR/USD 1.4299-1.4438

Rate GBP/USD 1.6327-1.6377

Rate GBP/EUR 1.1335-1.1397

The Swiss Franc has been the focus of much attention recently and the Swiss National Bank has stated that it may be forced to keep borrowing costs near zero because of the currencies strength. This can be outlined with the basic fact that the safe haven currency has gained 3.5 percent in the past month.

Stronger than forecasted data in the US and China has made commodity currencies far more appealing. Due to this the Canadian Dollar has strengthened against the majority of its most traded counterparts.

The Euro opens lower again today due to reports in the press that Euro officials struggled to break a deadlock on a second Greek rescue plan. However, no resolve was ever expected until next week or even the end of the month.

Domestically, the Greek parliament starts to debate new austerity measures, protestors are planning blockades. U.S. retail sales fell less than expectations as the USD strengthened overnight.

Sterling holding onto the recent gains over the Euro above the € 1.1350 pivotal level, despite a big jump in U.K. jobless claims.

EUR/USD currently 1.4357. Support 1.4200, resistance 1.4500.

GBP/USD currently 1.6324. Support 1.6300, resistance 1.6600.

GBP/EUR currently 1.1371. Support 1.1350, resistance 1.1600.

Oil $ 98.72 Gold $ 1522

Dow +1.03% FTSE -0.8% Nikkei +0.28%

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Swiss Franc gained 3.5 percent in the past month

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