The US dollar was virtually flat against the Swiss franc on Tuesday (6/10). The pair hesitated above 0.8200, in the middle of a two-week trading range, with investors watching from the sidelines, awaiting news from the US-China trade negotiations.
The world's two leading economies are expected to resume their talks for a second day, aimed at ironing out differences on thorny issues such as rare earths or chip trade, as their respective economies begin to show the scars of their tough tariff policies.
Comments from US President Donald Trump, highlighting positive reports received from US representatives, fueled hopes of a positive outcome and kept safe havens such as the CHF in check. However, market movements remained limited, with investors awaiting more specific news from the negotiations.
The Swiss and US calendars are light today with the market focus on the US Consumer Price Index report, due on Wednesday. Market forecasts point to a modest increase in annual inflation, with headline CPI rising to 2.5% from 2.3% and core inflation rising to 2.9% from 2.8%.
These figures support the Fed's wait-and-see stance and should be USD-positive, but any breakthrough from the US-China meeting would make the macro figures less important. (alg)
Source: FXstreet
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