- The dollar fails to break 0.9250 and is nearing a nine-month low at 0.9210.
- The slight bounce in Treasury yields fails to lift the dollar.
- The USD/CHF pair is poised to end the year with a slight appreciation.
The mild dollar recovery attempt seen during the Asian session on Friday has been capped at 0.9250, and USD/CHF weakened again. It is oprean at 0.9214, just above the nine-month low at 0.9210.
The dollar remains weak in the last session of the year
The dollar fails to take advantage of the modest recovery in US Treasury yields. The Dollar Index is down nearly 1% on the day, with the market in a pre-holiday mood on the last trading day of the year.
US macro data was not particularly supportive for the dollar on Thursday, with initial jobless claims rising 9,000 to 225,000 for the week ending December 24, while continuing claims rose to 1.71. million from 1.6 million in the week of December 17.
In addition, concerns about the global economic impact of rising COVID-19 infections in China and rising tensions in Ukraine, whose major cities are suffering some of the worst artillery attacks since the start of the war, are taking their toll on risk appetite.
USD/CHF is about to end the year almost unchanged
The pair will end 2022 with a slight appreciation, after having fallen almost 10% in recent quarters.
The USD appreciated strongly in the first half of the year, buoyed by the Federal Reserve’s hawkish monetary policy stance, only to fall just as rapidly in the last quarter weighed down by growing speculation about a possible US recession. US in 2023 and investor expectations of a slowdown in the path of Fed rate hikes.
technical levels
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
