USD/CHF remains capped below the 0.8800 barrier ahead of US Retail Sales
The USD/CHF pair holds ground around 0.8782 during the early Asian session on Tuesday. The pair remains sideways after retreating from multi-week high
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The USD/CHF pair holds ground around 0.8782 during the early Asian session on Tuesday. The pair remains sideways after retreating from multi-week high
Dollar's spirited rally attempt faced a swift halt as major US stock indices recorded gains, positively influencing broader market sentiment. Following that, Asian markets are poised, with China's unexpected rate cut effectively counterbalancing the dampening effects of discouraging economic data. As a result, commodity currencies, including Australian Dollar, saw a resurgence.
European major currencies are making a notable stride today, with Sterling at the forefront. The Pound ascent is attributed to the historic high recorded in UK regular wage growth. This surge adds further weight to BoE dilemma, pushing it to seriously consider additional monetary tightening in the upcoming month.
The USD/CAD price edged higher, trading at 1.3462 at the time of writing. The bias is bullish, so a further rise is highly probable.
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