USD/CHF consolidates in a range around mid-0.9200s, downside seems cushioned By HareshMenghani USDCHF RiskAppetite Fed CPI Currencies
A positive risk tone undermined the safe-haven CHF and acted as a tailwind for the major.USD/CHF
The pair struggled to capitalize on Friday's post-NFP strong move up and witnessed subdued/range-bound price move on the first day of a new week, though a combination of factors helped limit the downside. A generally positive tone around the equity markets undermined the safe-haven Swiss franc and acted as a tailwind for the USD/CHF pair amid modest US dollar strength.
In fact, the yield on the 2-year and 5-year, which are more sensitive to rate hike expectations, rose to the highest level since February 2020 and July 2019, respectively, on Friday. Hence, the market focus now shifts to the release of the latest US consumer inflation figures for January, due on Thursday, which would provide a fresh impetus to the USD/CHF pair.
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