Swiss Franc Holds Gains Against US Dollar as Middle East Tensions Outweigh Upbeat US Data
USD/CHF trades near 0.8070, down 0.22% on the day, as safe-haven demand for the Swiss Franc offsets support for the US Dollar from stronger-than-expected consumer sentiment.
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The Swiss Franc remained firm against the US Dollar on Friday, with USD/CHF trading around 0.8070, down 0.22% on the day. Escalating tensions in the Middle East continued to drive safe-haven flows into the franc.
This strength in the CHF outweighed modest support for the greenback following stronger-than-expected US consumer sentiment data. The pair remains under pressure as geopolitical risks dominate currency market sentiment.
Source: FXStreet Forex News