USD/CHF snaps two-day downtrend near 0.9000 as US Dollar Index stays firmer despite no deal on debt ceiling

US Dollar Index grinds higher past 103.00 during the two-day uptrend, close to 103.30 at the latest, even as US President Joe Biden and House Speaker Kevin McCarthy failed to offer a deal to avoid the debt ceiling expiry during the latest negotiations.

Apart from the US default concerns, the hawkish Federal Reserve bias also underpins the US Dollar’s strength and propels the USD/CHF price of late. On Monday, Minneapolis Federal Reserve President Neel Kashkari favored the rate hike trajectory while citing the fears of the US default and banking crisis, which in turn allowed the US Dollar to remain firmer. On the same line, St.

It’s worth noting that the mildly bid S&P500 Futures prod the US bond sellers and hence challenge the USD/CHF buyers amid a sluggish Asian session.

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US Dollar Index: DXY stays pressured around 103.00 as US debt ceiling talks, Fed Minutes loomUS Dollar Index: DXY stays pressured around 103.00 as US debt ceiling talks, Fed Minutes loom – by anilpanchal7 DollarIndex RiskAppetite Fed FiscalPolicy Politics
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