USD/CHF steadies around mid-0.9900s as DXY bears retreat on hawkish Fed bets – by anilpanchal7 USDCHF RiskAppetite UnitedKingdom CentralBanks Currencies
Doubts about the previous risk-on mood, absence of major data/events join firmer yields to challenge USD/CHF bears.
That said, the Swiss currency pair tracked the broad US dollar moves, as well as the risk catalysts to portray the USD/CHF south-run amid an absence of major data/events. Other than the pause in the risk-on mood, hawkish Fed bets also put a floor under the USD/CHF prices. As per the latest readings of the CME’s FedWatch Tool, there are nearly 95% chance of a 75 bps Fed rate hike in November.
On the same line was the Bank of England’s readiness for debt buybacks, starting November 07, as well as downbeat US data and receding hawkish bets on the BOE’s next move.
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