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USD/CHF rises for third day as risk aversion grows on US-Iran tensions
USD/CHF was around 0.8130 in Asian trading, while Switzerland’s 10-year yield hovered near two-month highs around 0.45%.
FXStreet reports that USD/CHF extended its rise for a third straight day, trading around 0.8130 during Asian hours on Wednesday as risk aversion increased amid escalating US and Iran tensions.
The dollar received support after President Donald Trump downplayed the likelihood of immediate negotiations with Tehran following mutual military strikes, while also saying he would respond if Iran-backed Houthi militants interfered with Red Sea shipping routes.
According to FXStreet, Iran’s top military command said Tehran would expand strikes to target US and allied assets across the region if the US attacks Iranian nuclear facilities, lifting demand for the USD as markets focused on geopolitical risk.
FXStreet also pointed to Switzerland macro conditions, noting the Swiss 10-year government bond yield hovering near two-month highs around 0.45%, alongside the Swiss National Bank maintaining its key policy rate at 0% and projecting inflation would remain largely stable over the medium term.