CHFJPY extended its decline at the end of the week by drawing a long body bearish candlestick with almost no shadow. Price drew a high of 166.655 and a low of 165.565 at the FXOpen chart. This extends the bearish sentiment of the CHFJPY pair since September 3 with its up-and-down wave fluctuations.
CHFJPY price broke the lower band on September 6, an indication that market volatility is starting to increase. In 52-week trading, the CHFJPY price range is in the range of 159.98 - 180.06. This pair is one of the popular cross pairs and may be quite interesting considering its high volatility. However, as a cross-currency pair traders may consider the spread fee.
The current SNB interest rate is 1.50% which was released in June from the previous 1.50%, the SNB's highest interest rate is 1.75% since 2023 and has been cut twice from 1.50% to 1.25%. This month traders will wait for the SNB and BOJ interest rate policies which may affect currency values.
The BOJ interest rate is now at 0.25%, the highest since the negative interest rate policy ended. The BOJ exited negative interest rates in April 2024 with an interest rate of 0.10% which then rose to 0.25% in July, and this month traders will wait for the BOJ's policy on interest rates.
Economic news that may be of concern to CHFJPY pair traders today is Swiss PPI data which is expected to rise 0.1% from the previous data revision of 0.1%. Meanwhile, the Bank Holiday in Japan is the Respect for the Aged Day. This may affect JPY currency transactions. Apart from banks in Japan, bank holidays are also held in China to commemorate the Mid-Autumn festival.
CHFJPY price broke the lower band on September 6, an indication that market volatility is starting to increase. In 52-week trading, the CHFJPY price range is in the range of 159.98 - 180.06. This pair is one of the popular cross pairs and may be quite interesting considering its high volatility. However, as a cross-currency pair traders may consider the spread fee.
The current SNB interest rate is 1.50% which was released in June from the previous 1.50%, the SNB's highest interest rate is 1.75% since 2023 and has been cut twice from 1.50% to 1.25%. This month traders will wait for the SNB and BOJ interest rate policies which may affect currency values.
The BOJ interest rate is now at 0.25%, the highest since the negative interest rate policy ended. The BOJ exited negative interest rates in April 2024 with an interest rate of 0.10% which then rose to 0.25% in July, and this month traders will wait for the BOJ's policy on interest rates.
Economic news that may be of concern to CHFJPY pair traders today is Swiss PPI data which is expected to rise 0.1% from the previous data revision of 0.1%. Meanwhile, the Bank Holiday in Japan is the Respect for the Aged Day. This may affect JPY currency transactions. Apart from banks in Japan, bank holidays are also held in China to commemorate the Mid-Autumn festival.
