- USD / CHF remains under bearish pressure for the second day in a row.
- The yield on 10-year US Treasuries has fallen more than 1%.
- The US Dollar DXY Index remains in negative territory below 92.50 ahead of US data.
After climbing to its strongest level in a month at 0.9243 on Monday, the USD / CHF pair lost its traction and closed in negative territory on Tuesday. Before the US mid-level data releases, USD / CHF remains defensive on Wednesday, shedding 0.36% on the day at 0.9171 at time of writing.
US Treasury Yields Continue to Press Down
Although risk-off sentiment in the market helped the USD remain relatively resilient against its rivals on Tuesday, the sharp drop in US Treasury yields weighed heavily on USD / CHF. The yield on 10-year US Treasuries fell more than 3% on Tuesday. At the time of writing, they are losing 1% on Wednesday at 1.27%.
Meanwhile, the US dollar DXY index remains in negative territory below the 92.50 level, without allowing the USD / CHF to rebound.
In the second half of the day, the US Federal Reserve will release industrial production and capacity utilization data for August. Additionally, the Federal Reserve Bank of New York will release the Empire State Manufacturing Survey. However, investors are likely to ignore this data and remain focused on US bond yields.
USD / CHF technical levels
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