On Friday (January 27), the USD/CHF rebounded slightly above 0.92 in the Asian market. The exchange rate temporarily fell out of the seven-week low of 0.9155.

As investors’ willingness to hedge has decreased, the overall sentiment and demand for the US dollar have weakened, which has dragged the USD/CHF down this week. However, the expectation that the Swiss National Bank will sell the Swiss franc to intervene in the market has, to a certain extent, inhibited the fall in the exchange rate.

Swiss Economy Minister Johann Schneider-Ammann stated on Thursday that the decision of the Swiss National Bank (SNB) to set the EUR/CHF exchange rate target at 1.20 is the most important measure to help boost the Swiss economy.

At the World Economic Forum in Davos, he said that the first and second quarters of this year will be more critical than the second half of the year.

Schneider-Ammann also pointed out that the economic environment in 2012 will be difficult, and that companies are aware that purchasing power parity is seriously above the 1.20 level, but they have not given new demand.

He also stated that the issue of Swiss francs should be decided by the SNB.

Technically, the upward trend of USD/CHF on the weekly chart has stalled, and diff is about to collapse the fork. If the market breaks through the 0.90 level, the downtrend channel will open; however, the daily chart kdj indicator enters the oversold area, and there may be a short-term rebound. In the 0.9270 line.

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