Snapshot: USD/CHF trades at 0.7845, down 0.09% on the session, driven by a weaker DXY which sits at 98.14. Upward pressure on US 10Y yields, currently at 4.323%, is failing to offer sufficient support to the pair as the dollar broadly softens. Focus shifts to US data due this afternoon.
- Watch for a break below 0.7834, the day’s low, which would open up further downside.
- Risk lies in a potential hawkish surprise from US data at 13:30 London, which could trigger a rapid reversal.
Bias into NY: Mildly bearish on USD/CHF while the DXY remains below 98.30, targeting a move towards 0.7820.