The USD/CHF pair remains under selling pressure above the 0.9000 area during the early Asian session on Monday. The downtick of the pair is bolstered
USD/CHF struggles to gain around 0.9018 on Monday. US Michigan Consumer Sentiment Indexfell to 63.0 versus 68.1 prior, below the market estimations of 67.4. The escalating geopolitical tensions between Israel and Palestine might boost the traditional safe-haven Swiss Franc. Market players will monitor the US Retail Sales, and Swiss Trade Balance later this week. by the softer US Dollar and a decline in US Treasury yield amid the rising geopolitical tensions in the Middle East.
On Sunday, Israeli Prime Minister Benjamin Netanyahu vowed to demolish Hamas as his military got ready ground operations in Gaza to root out the militant group. Israel has been signaling that it is making preparations for ground operations in Gaza despite the escalating humanitarian crisis within the coastal Palestinian enclave. Biden has called for civilian protection, and the US has been working to alleviate food, water, and petroleum shortages.
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