USD/CHF surges towards 0.9900 on risk-aversion as buyers eye a parity test By christianborjon USDCHF Majors Macroeconomics Technical Analysis Fed
Elevated US Treasury yields lifted the greenback and weighed on stocks.
USD/CHF Price Forecast: The pair is upward biased and would aim towards parity if buyers achieve a daily close above 0.9885.rallies sharply following a US inflation report that showed CPI is approaching the 9% threshold, increasing the bets of a US Federal Reserve 50 bps hike added to the June and July’s penciled by the US central bank. At 0.9882, the USD/CHF approaches 0.9900 and opens the door for a parity challenge for the second time in the year.
The US Dollar Index, a measure of the buck’s value, is advancing 0.84%, sitting at 104.177, while the US 10-year benchmark note rises 21 basis points and is up at 3.154%. On Friday, the USD/CHF opened around 0.9800 and dipped below the figure on the news from Japan, particularly BoJ’s and finance officials, unveiling a document threatening to intervene in the FX markets. The USD/CHF dipped towards daily’s low at 0.9766 but rallied on US data towards highs of 0.9890sThe USD/CHF remains upward biased, though at the time of writing, retraced from daily highs near 0.9898.
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