USD/CHF approaches 0.9500 as China's anti-lockdown protests trigger a risk-off stance
USD/CHF is moving toward 0.9500 as China's protest against Covid limits hits the risk aversion theme. Yields on 10-year US Treasuries are unable to surpass 3.70 percent since the Fed is expected to suspend the 75 basis point rate rise culture. Unchanged US GDP figures could disappoint Fed officials.

The USD/CHF pair struggled to recover after falling close to a key support level of 0.9440 during the early Asian session. Rising individual protests against anti-Covid locking efforts have sparked a trend of risk aversion on the global market, which appears to be giving the attempted recovery some lift.
At the time of writing, the asset is trading near 0.9480 and is anticipated to remain under the control of bulls as the US Dollar index (DXY) demonstrates strength. The USD Index has advanced to near 106.23 and is trying to touch 106.42, a two-day high. China's households' road protests against Covid-19 limits have increased the possibility of a severe economic downturn, which has increased the desirability of safe-haven investments.
10-year US Treasury yields remain below 3.70 percent as the Federal Reserve (Fed) seeks to suspend the larger rate hike culture in order to decrease market risks and assess the progress made by Fed policymakers up to this point.
The preliminary Gross Domestic Product (GDP) numbers of the United States will be vital for future guidance. The third-quarter economic statistics is anticipated to be constant at 2.6%. This may keep the dollar in check, but it won't help Fed Chair Jerome Powell achieve price stability. Sustained growth rates despite stringent policy measures imply sustained retail demand, which prevents inflation from falling as anticipated.
In terms of the Swiss franc, investors anticipate Tuesday's GDP report. Quarterly economic statistics is anticipated to remain unchanged at 0.3%. While yearly growth rates are anticipated to decrease to 1.0% from 2.8% previously reported.
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