USD/CHF drops to lowest in three months under 0.9400 amid risk aversion

• Swiss franc among top performers boosted by deterioration in risk sentiment.
• USD/CHF adds to weekly losses, down more than two hundred pips since Monday.

The USD/CHF dropped further during the American session and tumbled to 0.9378, the lowest since March 12. As of writing, trades at 0.9390, down fifty pips for the day, still under pressure.

The Swiss franc and the yen are among the top performers as demand for safe-haven assets soar. In Wall Street, the Dow Jones is falling more than 4% following the FOMC meeting on Wednesday, coronavirus data and jobless claims numbers.

A few minutes ago, US President Trump criticized again the Federal Reserve, on this occasion for its projections. “The Federal Reserve is wrong so often”, he mentioned. According to Trump the economy will have a very good Q3 and Q4.

The greenback is posting mixt results against European majors, but is it up significantly versus commodity and emerging market currencies, on the back of risk aversion.

EUR/CHF also falling sharply

The stronger Swiss franc also pushed EUR/CHF to the downside. The pair is trading at 1.0670, the lowest since June 2, and almost 250 pips below Friday’s top.

USD/CHF Levels