U.S. Markets closed

Swiss Franc Plummets – Here’s What Caused the Haven Currency’s Mini ‘Flash Crash’

Mark Emem
Swiss Franc

On Monday during the Tokyo session, the Swiss franc (CHF) was aggressively sold. The USD/CHF pair, for instance, touched the 1.0106 level. This was a high that the pair last reached in November last year.

On the other hand, the Euro/Swiss Franc (EUR/CHF) pair touched the 1.1422 mark. Against the Japanese yen, the franc fell to 108.80 while against the sterling pound it touched the 1.3056 level.

Swiss Franc Rises Sharply Then Fills Gap, Breaking its Average Trading Range

But within a matter of minutes, the sharp moves were reversed. For the USDCHF it resulted in a trading range of over 100 pips. This was more than double the average daily trading range of the pair which is known for lack of volatility.

Swiss Franc

Swiss Franc. Source: TradingView

Read the full story on CCN.com.