The USD/CHF pair trades in positive territory for the fourth consecutive day around 0.8830 during the early European session on Wednesday.
USD/CHF extends its upside to near 0.8830 in Wednesday’s early European session. The US October CPI inflation data will take center stage on Wednesday. The uncertainty surrounding Trump’s policy and geopolitical risks might cap the pair’s upside. The rally in the US Dollar due to the Trump trades provides some support to the pair. The Trump trades have underpinned the Greenback and US Treasury bond yields as markets expect the Federal Reserve to slow the pace of future rate reduction.
Even though the peg isn’t in force anymore, CHF fortunes tend to be highly correlated with the Euro ones due to the high dependency of the Swiss economy on the neighboring Eurozone. Why is the Swiss Franc considered a safe-haven currency? The Swiss Franc is considered a safe-haven asset, or a currency that investors tend to buy in times of market stress.
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