The US Dollar is showing a slightly firmer tone on Wednesday with the USD/CHF bouncing up from multi-year lows at 0.7875, but still capped below previous lows at the 0.7960 area.
The Greenback drew some support on Tuesday from a strong US JOLTS Job Openings report and a larger-than-expected improvement in manufacturing activity.
These figures endorsed Fed Powell's earlier comments at the ECB Forum oc Central Banking in Sintra, Portugal, where the chair of the US central bank confirmed his cautious stance toward interest rate cuts, amid a likely increase on inflation stemming from Trump's tariffs.
The pair, however, maintains its bearish bias intact as market concerns about the impact of Trump's tax bill on US Government debt and the lack of progress on trade deals remain significant headwinds to any US Dollar recovery.
The Swiss calendar is void on Wednesday, and the market will be looking at the US ADP employment report. After the strong JOLTS reading on Tuesday, another upbeat release today might boost expectations for Thursday's payroll report and provide additional support to the US Dollar.
Source: Fxstreet
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