- Swiss franc among the weakest on Friday.
- Rising yields in the US and Europe put pressure on the CHF.
- USD/CHF heading for sixth weekly gain and firm breakout of parity.
USD/CHF accelerated higher on Friday after breaking above 1.0050 and jumped as high as 1.0147, a level not seen since May 2019. The push comes from a combination of a weak Swiss franc and a firm dollar across the market.
The greenback is favored by the decline in the stock markets, along with a rise in Treasury bond yieldswhich reached several highs in years in various sections of the curve.
The Swiss franc is also under pressure from rising sovereign bond yields. EUR/CHF is rising and trading above 0.9850, while GBP/CHF is slightly in negative territory, despite negative momentum in British Pound.
In any case, the currency that falls the most on Friday is the japanese yen, which fails to find support. USD/JPY broke above 151.70, hitting new highs since August 1990.
another week
The USD/CHF is confirming levels above parity and above 1.0050, which may leave the door open for more gains.
With this week, he is making his sixth consecutive weekly win. Overbought indicators seem to be the only thing pointing to a possible stabilization or correction at the moment.
Technical levels
Source: Fx Street
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