The Swiss Franc (CHF) resumes its upside journey against the US Dollar (USD) on Friday after a corrective move the previous day. The USD/CHF pair is down 0.17% to near 0.7990 in the Asian trading session.
The Swiss Franc pair is expected to remain under pressure as heightening United States (US) debt concerns have weighed on the US Dollar.
On Wednesday, the US Treasury Department unveiled its plans to double the pace of its debt repayment, in an effort to curb higher borrowing costs. The announcement led to a sharp decline in US Treasury yields and the US Dollar.
However, bond yields recovered a majority of their losses, as financial markets warned that the government’s bond-buying plan would prove to be a temporary solution.
US Treasury buybacks flatten curve as fiscal credibility weighs on Dollar
Strategists at Brown Brothers Harriman note that “US long-term Treasury yields have…
