USD/CHF trades around 0.7870 amid increased safe-haven demand
The USD/CHF pair has steadied, trading around 0.7870 during Asian hours, as the US Dollar remains firm due to increased safe-haven demand.
The increased demand is a result of heightened tensions in the Middle East, with Iran halting indirect negotiations with the United States.
Traders are now awaiting the release of the Swiss Trade Balance data, which is due later in the day.
The escalation in the Middle East has fueled global inflation concerns, with financial markets pricing in a potential Federal Reserve rate hike before the year ends, indicating a 39% probability of a quarter-point increase in December.