USD / CHF falls to fresh two-week lows near 0.9350 despite renewed USD weakness

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  • USD / CHF was under moderate pressure early in the US session.
  • Falling US Treasury yields weigh on the USD.
  • The major Wall Street indices appear to open modestly lower.

After spending most of the day in a tight range below 0.9400, the USD/CHF it was under modest downward pressure early in the US session and hit its lowest level in two weeks at 0.9350. At time of writing, the pair was down 0.11% on the day at 0.9355.

DXY returns to 92.50

Although the dollar appears to be struggling to preserve its previous strength, USD / CHF remains on the defensive due to its positive correlation with US Treasury yields. Currently, the benchmark US Treasury yield The 10-year is down 1.03% to 1.688% and the US dollar index, which hit a daily high of 92.78, remains unchanged on the day at 92.56.

Later in the session, the IBD / TIPP Economic Optimism Index and JOLTS Job Openings will appear on the US economic record but these data are unlikely to trigger a significant market reaction.

Meanwhile, S&P 500 futures are down 0.2% as we approach the opening bell. If the major Wall Street indices fall sharply after Monday’s impressive rally, the dollar could start to outperform its rivals and pave the way for a rally in USD / CHF.

Technical levels

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