USD/CHF approaches 0.9300 as USD preserves its strength
- USD/CHF is rising for the second straight day on Friday.
- USD stays resilient against its rivals following Thursday's gains.
- 10-year US T-bond yield retreats modestly ahead of American session.
After closing the first three trading days of the week in the negative territory, the USD/CHF pair staged a decisive rebound on Thursday and gained nearly 50 pips. With the greenback staying resilient against its major rivals ahead of the weekend, USD/CHF is edging modestly higher and was last seen rising 0.16% on the day at 92.85.
DXY stays within touching distance of 92.00
On Thursday, the benchmark 10-year US T-bond yield surged to its highest level in more than a year at 1.75% and gained more than 4% on a daily basis before going into a consolidation phase. Nevertheless, the US Dollar Index (DXY) is clinging to small daily gains at 91.93 and helping USD/CHF stay bullish.
There won't be any macroeconomic data releases featured in the US economic docket on Friday and market participants will continue to watch yields closely.
Meanwhile, the 1% decline in the 10-year yield seems to be providing a boost to the market sentiment with the S&P 500 Futures rising 0.25% at the time of press. If Wall Street's main indexes manage to turn north and start the last day of the week on a firm footing, the DXY could struggle to break above 92.00 and limit USD/CHF's upside and vice versa.
Technical levels to watch for