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EUR/USD is trading about a tenth of a percent higher at the start of the week, in the lower 1.0800s, possibly as a result of broad US Dollar (USD) selling after the People’s Bank of China (PBoC) fixed the Renminbi surprisingly higher on Monday morning, according to Bloomberg News.
EUR/USD continues its steady decline into midweek after the release of higher-than-expected inflation data from the United States (US) reduced the chances of an early interest-rate cut from the Federal Reserve (Fed).
EUR/USD declines to the lower 1.0900s on Tuesday during the US session after the release of US Consumer Price Index (CPI) inflation data showed inflationary pressures were higher than expected in February.
The Swiss Franc (CHF) trades higher against most counterparts on Tuesday as individual factors come into play in each pairing.The US Dollar is down amidst an improvement in risk appetite, with the S&P 500 – a favored barometer of risk – up over 0.4% and long-duration Treasury yields mainly down.
The Swiss Franc (CHF) edges lower in most pairs on Monday as investors digest the strong US labor market data and bide their time ahead of the action expected later in the week when several major central banks will make their policy decisions.