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USD/CHF retraces recent losses, trading higher around 0.9020 during the European session on Wednesday. The pair receives upward support due to the rebound in the US Dollar (USD) on the back of improved US Treasury yields.
On Tuesday, Switzerland’s seasonally adjusted Unemployment Rate (MoM) remained consistent at 2.1% in October. Additionally, the conflict between Israel and Hamas initially influenced the USD/CHF pair, with capital possibly moving towards the safe-haven CHF. However, the situation in the Middle East is now contained, improving market sentiment and potentially prompting a capital shift from the Swiss Franc to riskier assets
