USD/CHF braces for fresh multi-year low below 0.8600 on upbeat Swiss trade numbers, US Dollar retreat – by anilpanchal7 USDCHF TradeBalance RiskAversion SNB Fed
and firmer Swiss trade numbers around 0.8560 amid the initial hour of Thursday’s European session.
Apart from the broadly upbeat Swiss foreign trade numbers for June, broad US Dollar weakness also allows the USD/CHF bears to keep the reins. That said, US Dollar Index drops 0.25% intraday to retest the 100.00 round figure while snapping a two-day rebound from the lowest level since April 2022. With this, the greenback justifies the previous day’s downbeat US housing data and mixed concerns about the Fed, as well as ignores the optimism at the US banks.
Additionally, the hawkish bias of the Swiss National Bank contrasts with the market’s doubt about the Federal Reserve’s future performances past July to weigh on the USD/CHF prices.
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