- USD/CHF is rising for third straight day on Tuesday.
- US Dollar Index extends rally beyond 91.00 ahead of mid-tier data.
- Wall Street’s main indexes look to open sharply higher.
The USD/CHF pair gained more than 60 pips on Monday and continues to edge higher ahead of American session on Tuesday. As of writing, the pair was up 0.15% on the day at 0.8982.
DXY settles above 91.00
The broad-based USD strength and the risk-positive market environment at the start of the week provided a boost to USD/CHF.
With major European equity indexes posting strong gains for the second straight day, the CHF is struggling to find demand as a safe-haven. Moreover, the S&P 500 Futures are up 0.8%, suggesting that risk flows will remain in control of financial markets with Wall Street’s main indexes opening decisively higher.
In the meantime, the US Dollar Index (DXY), which gained 0.45% on Monday, is currently at its highest level since early December at 91.10, up 0.15% ahead of the ISM-NY Business Conditions and the IBD/TIPP Economic Optimism Index data.
A more-than-1% increase seen in the benchmark 10-year US Treasury bond yield is helping the greenback outperform its rivals in the absence of significant fundamental drivers.
Technical levels to watch for
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