On Wednesday the pair reached a 2-week high at 0.8014 but it was rejected from those levels and pulled back toward 0.7850. During Friday?s American session it failed to hold above 0.7900 and fell to end the week hovering around 0.7850/60.
On the positive side for the US Dollar and for the Swiss National Bank (SNB) the Swissy did not reached a record high during the week for the first time since early July. This happened after the SNB eased it monetary policy further in an attempt to curb the strength of the Franc.
?The SNB may well have disappointed by not intervening in the FX market, but it has nevertheless managed to stabilise the franc ? even on a day like yesterday when equities fell almost 5%,? wrote Danske Bank analysts in the weekly report.
The Swissy ended the week slightly lower versus the Euro and the Pound and did not hit all time highs.
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