USD/CHF snaps two-day losing streak around 0.9250 as markets await key data – by anilpanchal7 USDCHF RiskAppetite CentralBanks PMI ForeignTrade
Risk aversion joins firmer yields to underpin US Dollar rebound amid full markets.Swiss trade numbers, US PMI eyed for immediate directions, Fed Minutes is the key.remains mildly bid around 0.9240, despite recently easing from the intraday high, as the Swiss pair traders benefit from the US Dollar rebound amid sour sentiment.
It’s worth noting, however, that the cautious mood ahead of the key data/events favors the USD/CHF buyers. snaps a two-day losing streak while marking mild gains near 104.00. In doing so, the greenback’s gauge versus the six major currencies traces the US Treasury bond yields, as well as benefits from the traditional haven status. That said, the US 10-year Treasury bond yields pick up bids to near the highest levels marked since early November 2022, mildly bid around 3.86% at the latest.
While tracing the run-up in the US Treasury bond yields, the fears emanating from China, North Korea and Russia seemed to have underpinned the fresh run-up in the US Treasury bond yields, amid hawkish hopes from the US Federal Reserve , as well as the US Dollar rebound. That said, the US and China alleged each other over the balloon shooting whereas the US diplomatic ties with Taiwan teased Beijing on Monday.
At home, the Swiss National Bank’s previous warnings to use open market operations to defend the CHF seemed to have weighed on the USD/CHF prices.
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