The USDCHF pair made an almost vertical dive as risk appetite surged on news that the US economy made it out of the
recession. After hovering above the 1.0250 mark, the USDCHF dropped to a low of 1.0168.
Since no reports were released from Switzerland yesterday, risk sentiment was the main factor driving the USDCHF price movement. When the US printed 3.5% in
GDP growth, traders took this as a sign to buy up higher-yielding currencies in exchange for the USD.
Switzerland's economic calendar has the KOF economic barometer due 10:30 am GMT today. The indicator is expected to climb from 0.89 to 1.19, implying that economic conditions in Switzerland are slowly improving. Later on, economic reports from the US could continue to fuel the run of risk appetite from yesterday.
Chicago PMI, University of Michigan consumer sentiment index, and data on personal spending and income are due from the US today.