- USD/CHF edges lower on Friday in the initial Asian session.
- Higher US Treasury yields fail to uplift the demand for the US dollar.
- The pair posts losses for the third-straight session.
USD/CHF remains poised for weekly losses on Friday in the early Asian session. The pair started the October series on a lower note, after testing the high of 0.9368 on September 30. At the time of writing, USD/CHF is trading at 0.9181, down 0.01% for the day.
The US Dollar Index (DXY), which tracks the greenback performance against its six major rivals, trades below 94.00 following mixed US data. The US Initial Jobless Claims came at 290K in the week ended October,16 below the market expectations of 300K. The Philadelphia Fed Manufacturing Index dropped 23.8 in October from 30.7 in September.
On the other hand, the Swiss franc gained momentum on its safe-haven appeal. The risk sentiment worsened after China’s debt-ridden Evergrande failed to commit its $2.6 billion deal on Wednesday. Investors remain concerned about its more than $300 billion debt. It is worth noting that, S&P 500 Futures is trading at 4,531, down 0.22% for the day.
As for now, traders are looking for the US Markit Manufacturing Purchasing Managers Index (PMI), Markit Services PMI to take fresh trading insight.
USD/CHF additional levels
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