USD/CHF gains ground for the second successive session, trading around 0.9070 during the European trading hours on Monday.
USD/CHF inches higher due to a firmer US Dollar driven by cautious remarks from Fed officials. The decline in the US Treasury yields limits the advance of the Greenback. Swiss Consumer Climate came in at the reading of -38.1 for April, compared to -38.0 prior. The US Dollar remains firmer due to the hawkish sentiment surrounding the Federal Reserve to maintain higher interest rates for an extended period, underpinning the USD/CHF pair.
The US Dollar Index , which gauges the performance of the US Dollar against six major currencies, trades around 105.30 with 2-year and 10-year yields on US Treasury bonds standing at 4.85% and 4.48%, respectively, by the press time. In Switzerland, SECO Consumer Climate experienced a slight decline in April, with a reading of -38.1, compared to the previous -38.0 and an expected -40.0. However, it still significantly trailed the long-term average.
Majors Macroeconomics Switzerland
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