A gradual change of sentiment in the precious metal and crypto markets is now clearly evident. The US dollar seems to be the only beneficiary at the present time, partly due to the widening interest rate differential in favour of the US currency and also due to the continuing unrest in Ukraine and the Middle East. The Swiss Franc is now flirting with the 200 day moving average against several currencies, notably, the US Dollar, the Canadian dollar and even the British pound.

Its bullish trend against the Japanese Yen is also losing momentum. It remains to be seen if the interest rate manipulation, which has recently been unwound in Japan will also take place in Switzerland.

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