Forex: USD/CHF prints new lows while market looks at Boehner vs Obama

FXstreet.com (Barcelona) - Republican Boehner said his team is working on a back-up plan to avoid most tax hikes from taking effect on January 1, particularly for incomes less than $1 million per year. This may mean that negotiations are far from over, since it's interpreted as a rejection of President Obama's offer to raise tax rates for households earning more than $400,000 (up from $250,000) and increase taxes by $1.2tn.

However, due to Fed's balance sheet expansion and CHF movements, the USDCHF is printing new lows in months, quoting at early May prices, now at 0.9152 low.

"The USDCHF currency pair continues consolidating inside a narrow trading range; I assume that the price may test the level of 0.9210 from below", wrote Igor Sayadov, analyst at Roboforex, expecting the pair to slide 0.9100.