USD/CHF: Spikes To 1.2050 On Trades But Fails To Follow-Though

The US trade gap narrowed in October and the Dollar has spiked higher on the data news. Hitting USD 58.7Bln the trade data has offered some support to the US unit ahead of the FOMC later today. USD/CHF rallied to 1.2050 in the wake of the data but the pair has failed to break any higher and this lack of follow-through will weigh as sellers into the strength return.