USD/CHF: EUR/USD Bounce Adds To Profit-Taking

The Dollar has initially failed to hold its post-US data gains as a host of profit-takers emerged just ahead of 1.2530. Earlier we noted that the long week-end caused by the US holiday on Monday could force such actions into the latter half of the day and such action in USD/CHF has also been aided by the bounce in EUR/USD. Looking ahead 1.2530 is still seen as the next key topside trigger with 1.2550 & 1.2580 then coming into view but into the European close and further stalling around the 1.2500 mark could be witnessed.