Swiss Franc Jumps In Cautious Trade
(RTTNews) - The Swiss franc appreciated against its major counterparts in the European session on Thursday, as European stocks fell amid a sell-off in the US dollar on dovish Fed bets.
The latest U.S. initial jobless claims figure will be out later in the day and signs of a weakening labor market could weaken the dollar further.
Although the Fed had already indicated that it could look at cutting borrowing costs next year, the European Central Bank (ECB) did not share a similar outlook.
The German DAX was little changed with a negative bias, while France's CAC 40 and the U.K.'s FTSE 100 both dipped around 0.1 percent.
The franc touched 0.8337 against the greenback, a level unseen since January 2015. Against the pound, it jumped to more than a 1-year high of 1.0708. The currency is likely to locate upside target levels around 0.82 against the greenback and 1.01 against the pound.
The franc advanced to a record high of 0.9307 against the euro.
The franc climbed to 168.85 against the yen, its highest level since December 5. The next possible upside target for the currency is seen around the 170.5 level.
Looking ahead, U.S. weekly jobless claims for the week ended December 23 and pending home sales for November will be out in the New York session.
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