Swiss Franc weakens as risk appetite improves
The Swiss Franc lost ground against the US Dollar and the euro on Monday as risk appetite improved.
The improvement in risk appetite was driven by the start of US-Iran talks, which were deemed positive.
The Swiss National Bank’s stance, which revealed that it is ready to intervene in foreign exchange markets if the CHF appreciates sharply, also contributed to the decline.
The USD/CHF daily chart shows the pair remains upward-biased after reaching the invested head-and-shoulders pattern objective of 0.8042.