- USD / CHF is rising for the third day in a row on Wednesday.
- The US Dollar Index climbs to nine-day highs above 93.60.
- S&P 500 futures are down nearly 2% before the opening bell.
After breaking above 0.9100 during European trading hours, the USD/CHF it maintained its bullish momentum and touched its highest level since October 19 at 0.9128. At time of writing, the pair was up 0.4% on the day at 0.9122.
DXY rises for the third day in a row
Broad-based USD strength continues to be the main driver of USD / CHF movements on Wednesday. The US Dollar Index (DXY), which posted small gains and closed above 93.00 on Tuesday, capitalized on safe-haven flows and rose to its highest level in more than a week at 93.64. At the moment, the DXY is up 0.5% on the day at 93.55.
Reflecting the risk-averse market environment, S&P 500 futures were down nearly 2% on the day, suggesting that the major Wall Street indices appear to start the day in negative territory. Additionally, the 10-year US Treasury yield is losing more than 2%, confirming the view that safe-haven flows are likely to continue to dominate markets.
Meanwhile, the only data from the US on Wednesday showed that the trade deficit in September narrowed $ 79.4 billion from $ 83.1 billion in August, but was largely ignored by market participants.
Credits: Forex Street
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