The USD/CHF is on track to close in the green for the eleventh straight week as the Greenback (USD) picks up further steam against the Swiss Franc (CH
F). US data beats continue to bolster the USD, and rising US Treasury yields on the back of concerns over a potential US government shutdown are adding fuel to the US Dollar fire.
On the CHF side, the Swiss National Bank recently surprised markets with an unexpected freeze on rate hikes, and the SNB's rate hike cycle appears to be well and truly over as inflation slumps below the Swiss central bank's 2% target and the Swiss domestic economy continues to show signs of weakness.US Durable Goods Orders surprised to the upside on Wednesday, with the headline figure for August printing 0.2%, a healthy rebound from the previous 5.
Friday sees Swiss Retail Sales for the annualized period into August, which last printed at -2.2%, while the US Core PersonalUSD/CHF technical outlook The USD/CHF has climbed nearly 8% from July's lows near 0.8555, and prices have vaulted cleanly over the 200-day Simple Moving Average near 0.9050.Despite the recent rise on the charts, the
still remains down almost 2.5% on the year, and buyers will need to overcome 2023's cap before moving further.
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