Euro in an interesting position in forex tradingThe dynamic between the euro and the Swiss franc in [B]currency trading[/B] has always been interesting. And, lately, there have been signs that the Swiss central bank have been involved in subtly manipulating the situation, sometimes favoring a weak currency, and then slowing the slide in some cases.
Overnight on the [B]FX market[/B], there was a very interesting development with EUR/CHF in currency trading. EUR/CHF spiked, only to fall back. It appears that Swiss officials are in the process of trying to slow the franc’s descent. GFT’s [B]Boris Schlossberg [/B]reports on the situation in FX360:
On Monday we wrote ‘with the pair grossly oversold and Swiss monetary officials seemingly determined to at the very least to slow down the slide, EUR/CHF 
could pop above 1.4800 on short covering rally.” However with EZ fiscal deficit problems still hanging over the region and the possible slowdown in the pace of economic recovery for the union as 2010 begins, the chance for further downside in [B]EUR/CHF remains quite strong[/B].
With the eurozone reeling from the latest German GDPnews, it is little surprise that the euro is having a hard time finding traction in [B]forex trading[/B].
[B]See Also[/B]
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[li]Looking for Euro Trends in Forex Trading[/li]Currency trading on the FX market
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