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Safe Haven Demand Causes Swiss Franc to Rally

The trade war continues to dominate the sentiment in global financial markets as well as in forex markets. Even as there is no word from China or the US regarding resumption of trade talks, US and Mexico are getting ready to resolve their differences before the new duties of 5% come into effect.

As a result of this, there is a risk-off sentiment prevailing in the markets, causing higher demand for safe haven assets. The Japanese yen and GOLD continue to remain in focus, but USD/CHF has also been of some interest among traders recently.

At the time of writing, this forex pair is trading at around 0.9968, after the safe haven Swiss franc gained over 3% against the US dollar over uncertainties prevailing in the markets. Even the US dollar index, DXY, has fallen below 98.00 and is now trading at 97.73.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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