The Swiss franc rose against its most-traded peers today amid rising risk aversion on the Forex market.
Traders became more nervous after China threatened to retaliate in response to the US tariffs. China and the United States are the world’s biggest economies, therefore a trade war between them can have a very significant negative impact on the global economic growth. Earlier, the Swissie declined as Italian-German yield spread narrowed after concerns about Italy’s budget eased.
USD/CHF ticked down from 0.9743 to 0.9737 as of 17:03 GMT today. EUR/CHF declined from 1.1304 to 1.1281, retreating from the daily high of 1.1343.
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Rising Risk Aversion Helps Swiss Franc to Rebound
