USD/CHF sticks to intraday gains above mid-0.9300s amid positive risk tone By HareshMenghani USDCHF Ukraine RiskAppetite Fed Currencies
The pair attracted fresh buying on Tuesday - marking the third successive day of the positive move - and inched back closer to over a one-week high, around the 0.9380 area touched the previous day. Hopes for progress in the Russia-Ukraine peace negotiations and a diplomatic solution to end the war boosted investors' confidence.
On the other hand, the US dollar continued drawing support from expectations that the Fed would adopt a more aggressive policy response to combat stubbornly high inflation. In fact, the markets have been pricing in the possibility of a 50 bps at the next two meetings, which was reinforced by the recent surge in the US Treasury bond yields.
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