USD/CHF oscillates in a narrow range above the 0.8770 mark ahead of the Swiss CPI – by lilyfinancial USDCHF Macroeconomics Majors
US ADP Employment Change lifts the Greenback. The US Dollar Index , a measure of the value of USD against six other major currencies, surges to its highest level since July 7 at 102.80 in response to theThat said, Automatic Data Processing Inc. revealed on Wednesday that the number of employed people in the US private sector rose by 324K, above estimates of 189K and lower than the revised reading of 455,000 in June. This figure is above the 12-month average.
US Treasury Secretary Janet Yellen said late Wednesday that Treasury securities remain the world's most secure and liquid asset and that the US economy is fundamentally robust, per Reuters. Additionally, White House Economic Adviser Jared Bernstein expressed confidence in the US government and Congress to avoid default, and the US Treasury debt remains the safest in the world. However, this headline fuels concern about the US debt ceiling crisis and might cap the upside in the Greenback.
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