USD/CHF recovers from daily lows on US Treasury yields rebound
|- USD/CHF prints milder gains on Wednesday in the Asian session.
- Higher US Treasury yields underpin the demand for the US dollar.
- The Swiss franc losses part of its gain on general risk-on sentiment.
USD/CHF consolidates gains in the Asian trading hours on Wednesday. After testing the low at around 0.9111 in the previous session’s, the pair retraced back and made a high of 0.9139 in the initial trading session.
At the time of writing, USD/CHF is trading at 0.9130, up 0.08% for the day.
The US Treasury yields trade higher at 1.29% with 0,53% gains. The US Dollar Index (DXY) diverges from the benchmark 10-year yields movement and trades below 93.00, which capped the gains for USD/CHF.
US New home sales in the US grew 1% to 708K in July, which came in line with the market expectations of 700K.
Meantime, House Democrats approved a $3.5 trillion budget resolution package to support the US economy.
It is worth noting that S&P 500 Futures were trading at 4,480, down 0.03%, hit an all-time high in the US session.
As for now, traders are waiting for the Swiss Economic Sentiment Index, US Durable Goods Orders data to gauge the market sentiment.
USD/CHF additional levels
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