USD/CHF Falls below 0.9250 after US Dollar Index Was Overcome Following Penalties Placed on Russia by the US

Updated:

US Dollar versus Swiss franc pair has regressed from yesterday’s high of 0.9288, now trading between 0.9243 – 0.9246, it is also anticipated that it will fall lower as the market undercurrent changes. It’s like investors are now getting to understand the harm that can befall the economy of the world due to the ongoing strife between Russia and Ukraine.

The Actuators and How They Have Brought the Pair to This Point
Yesterday the USD/CHF pair experienced a powerful rally after Moscow applied full military action on Ukraine without minding warnings from Western leaders of penalties that would be placed on them. The US Dollar gained about 0.7 percent yesterday against the closing value of two days ago . During the geopolitical strife, the risk-off stimuli were still lively and traders chose the USD over CHF.

Ukraine’s situation has become worse after Kremlin was attacked. United Nations refugee agency estimated that about one hundred thousand Ukrainians have left their homes. Thousands of Ukrainian crossed to neighboring countries like Hungary, Moldova, Romania, and Poland.

At the same time, the US dollar index expects fresh stimulus for more counsel after the re-occurrence of this year’s peak. Yesterday, the Gross Domestic Product figures from the US Bureau Economic Analysis stayed as estimated of 7 percent but an improvement from last recorded of 6.9 percent was seen. Meanwhile, the opening Jobless claims record by the Department of labor was reduced to 234,000 as against the previous 249,000.

Also, Yesterday’s Employment Level as disclosed by the Swiss statistics improved by rising from 5.179 to 5.239 which is above the market’s estimate of 5.179 and 5.213.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.