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USD/CHF analysis

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  • 4 weeks later...

After an initial uptick to 0.9990 level, the chf to usd pair met with some fresh supply and has now dropped to near 3-week lows. 

The US Dollar extended its retracement slide from a five-month high set yesterday and was seen as one of the key factors behind the pair's intraday slide of over 40-pips from session tops. 

Currently trading around mid-0.9900s, the pair seemed unaffected by a goodish pickup in the European equity markets, which tends to dent the Swiss Franc's safe-haven appeal. 

Even a modest uptick in the US Treasury bond yields, albeit lacked any strong conviction, did little to influence the price-action, with the USD price-dynamics acting as an exclusive driver of the pair's momentum through the mid-European session.

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