USD/CHF: Fresh Highs But 1.25 Hurdle Holds Fresh Sales

With no data to impede its afternoon appreciation the Dollar has made further stabs higher and 1.2490 printed amid the recent USD/CHF rally. However, local players talk of the 1.2500 level holding what could potentially be a mass of fresh sellers that could then stall any further gains. As a result, profit booking on long positions could be witnessed and into the European close a slight drift lower would see rates edge back towards 1.2445/50.