🔥USD/CHF holds below 0.8900 as Russia-Ukraine tensions escalate
USD/CHF remains below 0.8900 amid escalating Russia-Ukraine tensions. The pair hovers near 0.8875 in the European session with the US Dollar weakening. Factors influencing the pair include Swiss Industrial Production data and a speech by the Fed's Austan Goolsbee. Despite Trump Trades losing momentum, positive US economic data and Fed officials' cautious stance may limit the pair's downside. US Retail Sales rose by 0.4% in October, exceeding expectations. Geopolitical tensions between Russia and Ukraine contribute to safe-haven flows supporting the Swiss Franc. News of the US allowing Ukraine to use arms against Russia adds to market uncertainty. The Swiss Franc is considered a safe-haven currency due to Switzerland's stable economy, strong export sector, and political neutrality. The SNB's decisions, economic data, and Eurozone stability also impact the Swiss Franc's value. Trading in foreign exchange carries risks and requires thorough research._fxstreet
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USD/CHF remains below 0.8900 amid escalating Russia-Ukraine tensions. The pair hovers near 0.8875 in the European session with the US Dollar weakening. Factors influencing the pair include Swiss Industrial Production data and a speech by the Fed's Austan Goolsbee. Despite Trump Trades losing momentum, positive US economic data and Fed officials' cautious stance may limit the pair's downside. US Retail Sales rose by 0.4% in October, exceeding expectations. Geopolitical tensions between Russia and Ukraine contribute to safe-haven flows supporting the Swiss Franc. News of the US allowing Ukraine to use arms against Russia adds to market uncertainty. The Swiss Franc is considered a safe-haven currency due to Switzerland's stable economy, strong export sector, and political neutrality. The SNB's decisions, economic data, and Eurozone stability also impact the Swiss Franc's value. Trading in foreign exchange carries risks and requires thorough research._fxstreet
👉Read here