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Sumber: Arsip Newsmaker23 USD/CHF ended Thursday’s Analisis Trading (August 20) higher at around 0.8007, as the US dollar rebounded from sharp selling pressure in the previous session. The greenback’s recovery coincided with a rise in Treasury yields and a market reassessment of the likelihood that the Federal Reserve would maintain a tight monetary policy for longer. The dollar had previously fallen after the US Treasury Department announced an increase in long-term bond buybacks to a minimum of US$4 billion per operation. However, the policy’s impact on the bond market was short-lived. Treasury yields climbed again as investors remained concerned about inflation, the fiscal deficit, and the scale of US government financing needs, thereby providing fresh support for the dollar. On the Swiss side, the franc also faced pressure due to the monetary policy divergence between the Federal Reserve and the Swiss National Bank (SNB). Low Swiss interest rates have made the franc an attractive funding currency for carry trade strategies; investors borrow the low-cost franc to purchase higher-yielding assets, thereby increasing selling pressure on the Swiss currency. Despite the USD/CHF rebound, the pair’s movement remains vulnerable to shifts in market sentiment. As the franc is a safe-haven currency, geopolitical escalations or heightened concerns regarding US fiscal conditions could once again drive demand for the Swiss currency. Conversely, if US yields remain high and expectations for a hawkish Fed persist, USD/CHF could maintain its upward momentum above the 0.8000 level. (CP)
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