The US dollar has remained trapped within a tight range above 0.9100 on Tuesday. The dollar’s upside attempt seen on the European trading session has been capped below 0.9130, and the pair retreated again to 0.9120, little changed on the day.
The upbeat market mood weighs on the CHF:
The positive sentiment generated on Monday after the pharmaceutical giant AstraZeneca revealed that its COVID-19 vaccine is 90% effective has extended into Tuesday’s trading. Beyond that, US President Trump is showing signals of acknowledging Biden’s victory, which has contributed to maintaining the upbeat market mood.
Investors’ optimism has reflected on higher equity markets and increasing US T-Bond yields that have favored the USD against the safe-haven Swiss franc. European indexes have closed with advances between 1.4% and 2%, while in Wall Street, the S&P 500 Index adds 1.5%, while the Dow Jones and the Nasdaq Indexes trade 1.43% and 1.25% up respectively.
USD/CHF Short (Sell)
ENTER AT: 0.9108