USD/CHF: ISM-Linked Bounce Brings Renewed Selling

US February ISM data hit 52.3, the highest level since September 2006, to aid the Dollar. However, construction spending fell by 0.8% to leave the US unit a sell on balance. The ISM linked USD/CHF bounce worked spot back to the 1.2200 level but renewed sales have emerged and are now depressing the pair back towards the pre-data 1.2145/50 area.