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USD/CHF rises for second day as safe-haven dollar demand returns

FXStreet reports the pair traded around 0.8130 in Asian hours, with risk aversion tied to renewed Strait of Hormuz uncertainty and Middle East tensions.

Reported · Written up by our desk · Major Pairs

USD/CHF extended gains for a second consecutive day, trading around 0.8130 during Asian hours Friday, as renewed safe-haven demand boosted the US dollar, according to FXStreet.

The report links the move to heightened geopolitical strain around the Strait of Hormuz and developments involving Saudi Arabia, Iran, and Iran-aligned Houthis.

FXStreet also points to rising US Treasury yields and a recovery in crude oil prices, factors that have renewed concern the Federal Reserve could raise rates again next month.

On the Swiss side, economic data came in mixed, with Switzerland’s unemployment rate ticking up to 3.0% in July and youth unemployment edging higher, while FXStreet notes Switzerland CPI inflation stayed muted, with headline inflation at 0.4% year-on-year and core at 0.3% for a fourth straight month.

Latest closeWTI crude $78.07 ▲3.8%

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