USD/CHF backs away from a brief look above 0.9200

As the US stock markets rebounded into the close last night the dollar lost more traction. Prior to that the US currency had been pressing higher versus the Swiss Franc, even as the EUR/USD was advancing at the same time. That was all due to a corresponding rebound in the EUR/CHF. Hence the USD/CHF managed to have a look at the 0.9200 handle for the first time this year, reaching a high at 0.9201 right on the 4pm London fix. However, it did not stay up there for very long and later retreated into the US close, where it ended the day at 0.9170. That relapse was extended earlier today and the USD/CHF fell back to 0.9152. So, the noted resistance level at 0.9224 was not put to the test and it remains to be seen, if that will happen over the next couple of days. Much could depend on what the US CPI report due out tomorrow has to offer. There will be more to add on that in due course. The USD/CHF is currently trading at 0.9161