USD/CHF bears approach 0.9450 with eyes on Swiss GDP, Fed Chair Powell

Improvement in market sentiment, downbeat US Treasury bond yields weigh on the US Dollar.USD/CHF takes offers to refresh the intraday low near 0.9460 heading into Tuesday’s European session as it snaps the three-day uptrend. Although the risk-on mood seems to weigh on the Swiss Franc pair, a cautious mood ahead of the key data/events tests the downside momentum of late.

It should be noted that the mixed comments from the US Federal Reserve policymakers and cautious mood before the release of Switzerland’s third quarter Gross Domestic Product seem to probe the pair sellers of late. On the same line, St. Louis Fed President James "Jim" Bullard stated that the situation calls for much higher interest rates than what we've been used to. Further, New York President John Williams said that he believes the Fed will need to raise rates to a level sufficiently restrictive to push down on inflation and keep them there for all of next year. Additionally, Fed Vice Chair Lael Brainard advocated for tighter monetary policy while citing risk-management reasons.

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