- USD / CHF is heading south for the fifth day in a row to test support at the 0.9090 / 00 area.
- The US dollar generally depreciates in a market with moderate risk appetite.
The U.S. dollar remains on the defensive against the Swiss franc, trading lower for the fifth day in a row amid widespread USD weakness. With limited bullish attempts below 0.9125 / 30, the pair has turned down again to retest the support area at 0.9090 / 00
The dollar depreciated across the board on Wednesday amid moderately positive risk sentiment, as the latest news on Pfizer’s promising vaccine results have eased concerns about record COVID-10 infections across the globe. world.
Pharmaceutical Pfizer has raised the spirits of the market by announcing that, according to the latest tests, its vaccine against coronavirus is 95% effective and 94% in adults over 65 years. The market welcomed the news with moderate gains in European equity markets, which has hit the safe haven dollar.
US stocks have fallen into negative territory after a slightly positive open. However, the US dollar index remains negative, on track to confirm a five-day losing streak and approaching two-month lows at 92.10.
Looking at macroeconomic data, the better-than-expected start of home construction in the United States, which rose to 1.53 million in October, beating market expectations of a reading of 1.46 million, has had a minimal impact on the pair.
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