Dollar Breakout Builds Momentum Against Franc

The US dollar saw a slight rally against the Swiss franc on Thursday, July 24th. This upward momentum is being driven by interest rate differentials in the market, with the dollar grinding higher for some time now.

Technical traders are watching the 0.82 level closely, as it's seen as important in this breakout scenario. Short-term pullbacks could find support all the way down to the 50-day EMA, which is a key area of interest for many traders.

The Swiss National Bank's loose monetary policy and efforts to keep the franc weak are contributing to the dollar's strength. With the US Federal Reserve likely to continue hiking rates due to inflation concerns, it's no surprise that the dollar is favored over the franc at present.