Snapshot: USD/CHF is trading at 0.7850, down -0.16% on the session, driven primarily by risk-off flows into the USD as geopolitical tensions simmer. DXY is down -0.31% despite the Swissy weakness indicating broader USD strength. Trump’s speech at 17:00 London poses a significant risk event.
- Watch 0.7846 as intraday support for USD/CHF; break below opens a move to 0.7820.
- Risk: Further escalation of US-Iran tensions could exacerbate the flight to safety, favoring the USD.
Bias into NY: Bullish USD/CHF given the prevailing risk-off sentiment and SNB’s stated preference for a weaker Franc; target 0.7880.