USD/CHF clings to multi-month high above 0.9250 as risk sentiment improves

• USD/CHF halts the previous three session’s upside movement.
• US dollar gains despite dovish Fed outlook and softer economic data.
• Risk-on mood exerts pressure on the Swiss franc.

The appreciative move in the US dollar keeps USD/CHF mildly higher in the initial Asian trading hours. The pair moves in a narrow trading range in a less than 10-pips movement.

At the time of writing, USD/CHF is trading at 0.9256, up 0.01% for the day.

The US dollar index trades at 92.71 with 0.0%3 gains. Investors continued to digest Fed’s dovish and softer US economic data.

The US 10-year benchmark yields read at 1.3%, the lowest level since mid-February as Fed’s officials remained concerned about the uncertainty of the economic recovery.

Meanwhile, Atlanta Federal Reserve President Raphael Bostic expresses his concern that renewed coronavirus infections due to the highly contagious Delta variant could slow down the economic recovery on falling consumer demands. The greenback remained unfazed by the comments.

It is worth noting that S&P Futures were trading at 4,347 with 0.08% losses.

On the other hand, the Swiss franc remains on the backfoot on improved market sentiment. However, a resurgence of corona cases in Asia-pacific and Europe benefited the safe-haven asset franc.

As for now, traders are waiting for the Swiss Unemployment Rate, US Initial Jobless Claim data to gauge the market sentiment.

USD/CHF additional levels