PT Solid Gold Berjangka | USD/CHF Hangs Around 0.8530, Risk-Aversion Emerges After Houthi’s Attack on USS Laboon
USD USD/CHF PT SGB SOLID GOLD BERJANGKA SOLID GROUP SG BERJANGKA
Solid Gold Berjangka | The provided information highlights the movements of the USD/CHF pair amid heightened geopolitical tensions in the Middle East. The pair is observed to be moving sideways, hovering around 0.8530 during the European session on Monday. The recent launch of an anti-ship missile by the Iran-backed Houthi militia, targeting the USS Laboon in the Red Sea, has contributed to the demand for the safe-haven currency Swiss Franc (CHF).
The situation in the Middle East, including military attacks by the US and UK on Houthi targets, has increased geopolitical uncertainties, leading investors to seek refuge in the Swiss Franc. The US Dollar Index (DXY) has experienced some recovery, reaching around 102.50, despite facing challenges following the release of downbeat Producer Price Index (PPI) data.
The Swiss Franc’s strength is further supported by positive economic data on the Swiss side, including growth in the Consumer Price Index (YoY) for December and improved Real Retail Sales. These factors contribute to the overall strength of the Swiss Franc against the US Dollar.
Looking ahead, the upcoming World Economic Forum in Davos is expected to be influential. The event, attended by over 28,000 leaders worldwide, may provide insights and discussions on various economic and geopolitical issues, impacting currency movements in the coming days.