Into European action and spot bounced as support into the 1.2100/05 area kept the Dollar on the front-foot. Model and interbank buyers have continued to support the pair with 1.2135 and 1.2145/50 offers easily absorbed amid the morning move higher. Cross buying has helped prop the pair with offers from 1.2170 back to 1.2185 now attempting to curb further strength. Option barriers are noted above into 1.2200.
[EUR/CHF] was bought back into the 1.6500's into European trading with 1.6507 printing before fresh offers emerged to steady the pair near the 1.6500 mark where option expiries are noted today. Looking ahead, the FOMC may be weighing on broader sentiment but intraday and there are still event-risks in the pipeline.
12:55 GMT sees the Redbook release Retail Sales Index while at 14:00 GMT the Commerce Department releases wholesale inventories for March. Economists forecast a +0.4% reading on the month while after the European close the ISM unveil their semiannual forecasts. Local dealers note a key speech tomorrow from the SNB board member Jordan and the monthly Swiss bond auction results.
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