USD/CHF drops towards 0.9200 as US Dollar extends pullback from monthly high on mixed Fed talks – by anilpanchal7 USDCHF RiskAppetite Fed YieldCurve China
gish Asian session. In doing so, the quote drops for the second consecutive day, despite marking minor losses of late. prints mild losses near 103.30 as it stretches the previous day’s retreat from the monthly high. In doing so, the greenback’s gauge versus the six major currencies tracks downbeat US Treasury yields amid mixed signals from the Federal Reserve officials.
US 10-year Treasury bond yields snap a three-day uptrend while retreating from a one-month high of around 3.68% to 3.67% by the press time. It should be noted that Minneapolis Federal Reserve President Neel Kashkari told CNN on Tuesday, "We may have to hold rates at a higher level for longer," while adding that he is not forecasting a recession.
Alternatively, mixed earnings reports and fresh fears emanating from China seem to weigh on the mood and put a floor under the USD/CHF prices. On Monday, US President Joe Biden tried placating the fears of another round of Sino-American tussles by saying, “The balloon incident does not weaken US-China relations.” However, China’s rejection of the Pentagon’s request keeps the geopolitical tension high and teases US Dollar buyers.
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