The haven demand returned strongly with the end of last week as Friday saw the dollar compensating for the entire week’s losses and also regained its grounds versus the Swiss franc.
On Monday the Swiss data is of little importance as the focus remains on rating agencies and whether news reports that S&P downgraded France and possible other nations are confirmed by the agency or not and that will be the bullish catalyst for the dollar likely for the entire week if seen.
The EU debt crisis returns to be center stage as attempts for markets to stabilize clearly fail and that will keep haven demand favored for the dollar over other currencies and accordingly pressure the pair more to the upside.
The Swiss economy will start the week at 08:15 GMT with the Producer & Import Prices for December after the 0.8% drop recorded the previous month and 2.4% decline on the year,
Originally posted here
