Hawkish Fed expectations, elevated US bond yields extended support to the USD.pair added to its strong intraday gains and shot to a nearly three-week high, around mid-0.9200s during the early North American session.
In fact, the yield on the benchmark 10-year US government bond shot to the 1.80% threshold amid the prospects for a faster policy tightening by the Fed. The money markets have fully priced in the possibility of an eventual Fed lift-off in March and are anticipating four interest rate hikes by the end of 2022.
Meanwhile, an extended selloff in the US bond markets tempered investors' appetite for perceived riskier assets, which was evident from the cautious mood around the equity markets. This could undermine the safe-haven Swiss franc and cap the USD/CHF pair amid absent relevant economic releases from the US.
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