USD/CHF rises from a multi-week low, returning to about 0.9600 ahead of US GDP.

 

During the first part of Thursday’s European session, the USD/CHF pair falls to a new low for the last three and a half weeks. Despite this, the pair can find some support at lower levels. The spot prices have already recovered to the vicinity of 0.9600; nevertheless, the attempted recovery lacked the bullish confidence to make it successful.

As investors look beyond a Federal Open Market Committee that was less hawkish, the US dollar is staging a decent comeback from its lowest level since July 6, reached earlier this Thursday. This is happening in conjunction with a goodish uptick in the rates on US Treasury bonds. The fact that this is turning out to be an essential aspect that lends some support to the USD/CHF pair is quite encouraging.

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#usd #chf #us #gdp #federalopenmarket #dollar #forexmarketupdate #forexnews #edgeforex

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