USD/CHF Trims Gains as Dollar Struggles After Suspected Yen Intervention
USD/CHF pared earlier advances on Friday. The US dollar struggled to regain footing after a sharp drop the previous day, tied to suspected Japanese intervention in the yen.
The Swiss franc recovered some lost ground against the US dollar during Friday’s session. Earlier gains in USD/CHF were partially erased as the greenback faced renewed selling pressure.
Behind the dollar’s weakness was a heavy sell-off on Thursday, which traders and analysts attributed to possible intervention by Japanese authorities. The apparent aim was to stem excessive depreciation in the yen, but the ripple effects weighed on the broader US currency.
As a result, USD/CHF pulled back from its intraday highs, with the dollar failing to find fresh momentum. The move left the pair on track to give back part of its earlier rise, though it remained above the week’s opening levels.
Source: FXStreet Forex News