USD/CHF remains confined in a familiar trading range around mid-0.9200s By HareshMenghani USDCHF RiskAppetite RussianFederation Fed Currencies
A turnaround in the risk sentiment undermined the safe-haven CHF and extended some support.USD/CHF
The pair continued with its struggle to gain any meaningful traction and remained confined in a familiar trading range held over the past one week or so. The USD/CHF pair did get a minor lift during the second half of the trading on Tuesday, though the uptick lacked follow-through buying and ran out of steam near the 0.9270 region.
Bulls, however, failed to capitalize on the uptick amid modest US dollar weakness. That said, bets for a faster policy tightening by the, along with the risk-on impulse triggered a fresh leg up in the US Treasury bond yields. In fact, the yield on the benchmark 10-year US government bond shot above the 2% mark and should limit the USD losses.
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