The USD/CHF pair edges lower to near 0.9130 during the Asian trading hours on Monday, pressured by the weakening of the US Dollar (USD).
USD/CHF weakens to around 0.9130 in Monday’s Asian session, losing 0.22% on the day. The positive view of the pair prevails above the 100-day EMA with the bullish RSI indicator. The first upside barrier emerges at 0.9200; the initial support level is located at 0.9082. The USD/CHF pairedges lower to near 0.9130 during the Asian trading hours on Monday, pressured by the weakening of the US Dollar .
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. This is due to the perceived status of Switzerland in the world: a stable economy, a strong export sector, big central bank reserves or a longstanding political stance towards neutrality in global conflicts make the country’s currency a good choice for investors fleeing from risks.
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