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Forex pairs in this Article » USD/CHF (New York) - According to Geoffrey Yu, a Research analyst at UBS, “The Swiss franc was sold on the week, though no investor base chose to add to any outstanding position in size: EUR/CHF and USD/CHF were both marginally net bought on the week.”

However, asset managers seemed more keen to get out of EUR/CHF longs and into USD/CHF: last week marked the first time since late-May that real money were net sellers of EUR/CHF, and the net sales flow was the second largest of the year.

Ultimately, corporate and hedge flow were more than enough to compensate. “For the GBP, investors chose not to take too strong a view upon Carney's arrival at the BoE's helm. Investors went back into the GBP/USD, though at the expense of EUR/GBP shorts.” Yu adds.
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