USD/CHF Rebounds as US Dollar Strengthens Near Five-Week High
The USD/CHF pair has witnessed dip-buying activity on Thursday after experiencing a pullback within the range of the 38.2% and 50% Fibonacci levels. While spot prices show a mildly positive bias during the early European session, they remain comfortably close to the nearly five-week high reached on Wednesday.
The US Dollar (USD) has been strengthening for the third consecutive day, maintaining its position near the highest level since March 24. This significant upward momentum is seen as a key factor providing support to the USD/CHF pair. The recent hawkish comments from various Federal Reserve (Fed) officials have fueled speculations that the central bank will maintain higher interest rates for an extended period. This sentiment, combined with the growing optimism surrounding the resolution of the US debt ceiling issue, has led to elevated US Treasury bond yields and continues to bolster the strength of the Greenback.
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