USD/CHF drops to lowest level in more than two weeks at 0.9060
|- USD/CHF is falling for the third straight day on Thursday.
- US Dollar Index moves sideways near 92.00 in American session.
After closing below 0.9100 on Wednesday, the USD/CHF pair pushed lower on Thursday and touched its worst level since November 9th at 0.9060. As of writing, the pair was down 0.15% on a daily basis at 0.9065.
Risk aversion supports CHF on Thursday
In the absence of significant fundamental drivers and the thin trading conditions due to the Thanksgiving Day holiday in the US, the cautious market mood seems to be helping the CHF gather strength against its rivals.
Poland and Hungary reiterated their willingness to veto the Eurozone budget amid a lack of new proposals on Thursday. Additionally, the latest developments surrounding Brexit negotiations showed that sides haven't been able to make any progress on key issues, such as fisheries.
Reflecting the dismal market mood, the UK's FTSE 100 and Germany's DAX closed the day in the negative territory.
On the other hand, the US Dollar Index, which closed the last two days in the negative territory and lost more than 0.5% during that period, is staging a technical correction on Thursday and keeping USD/CHF's losses limited for the time being. At the moment, the index is clinging to modest daily gains at 92.05.
There won't be any significant macroeconomic data releases on Friday and the risk perception is likely to continue to impact USD/CHF's movements.
Technical levels to watch for
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