The USD/CHF pair struggles to capitalize on the previous day's recovery from the vicinity of the 0.8800 mark or a one-week low and attracts fresh sellers during the Asian session on Thursday.
USD/CHF meets with a fresh supply on Thursday, though the downside seems limited. Expectations for a less dovish Fed and elevated US bond yields could support the USD. The risk-on mood could undermine the safe-haven CHF and lend support to the major. The USD/CHF pair struggles to capitalize on the previous day's recovery from the vicinity of the 0.8800 mark or a one-week low and attracts fresh sellers during the Asian session on Thursday. Spot prices currently trade around the 0.
The prevalent risk-on mood might further contribute to limiting the downside for the USD/CHF pair and warrants some caution for aggressive bearish traders. Market participants now look forward to the US economic docket – featuring the release of the usual Weekly Initial Jobless Claims, the Philly Fed Manufacturing Index and Existing Home Sales data. This, along with the speeches from a slew of influential FOMC members, will drive the US bond yields and the USD.
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