With the Dollar steady ahead of the weekend, USD/CHF has been forced into a rough 1.2450/2500 range. Dealers are expecting to see more pre-weekend profit-taking but with 1.2550 now seen as the key topside level is will take a break above here before the Dollar can extend its recent bull-run.
Intraday and Franc crosses have once more generated a better income-stream than the Dollar pair. Both EUR/CHF & GBP/CHF note option expiries close by with the 1.6200 & 2.4550 levels within striking distance in both. Bids in EUR/CHF into 1.6165/70 have propped into European trading while GBP/CHF bounced off 2.4585 into European action. Looking ahead, the deluge of US data already seen this week means there is little left to hit the screens.
Lacker comments are due early into North American trading (around 13:00 GMT) with data looking sparse. The key short-term event-risk for the US unit is seen as the 15:00 GMT January Michigan Consumer Sentiment release. Economists expect a 92.5 headline, compared to the previous 91.7 Dec reading.
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