Swiss Franc Back in Demand! USD/CHF Reversal Down Amid Global Tensions
The USD/CHF currency pair halted its four-day winning streak and weakened to around 0.7990 in Asian trading on Monday. This weakening occurred because the Swiss Franc (CHF) was again sought after as a safe-haven asset, as rising global geopolitical tensions prompted investors to shift away from risk.
Market focus was on the situation in Iran, where US President Donald Trump warned Tehran against using violence against demonstrators. Trump also hinted at possible action if the crackdown continued. Meanwhile, Iranian officials warned the United States and Israel against intervening, raising fears of a broader conflict.
Global tensions were also exacerbated by Arctic security issues. The UK and Germany were reportedly considering increasing their military presence in Greenland, potentially even proposing a joint NATO mission. This situation made the market more cautious, boosting demand for the Swiss Franc and depressing USD/CHF movements. (az)
Source: Newsmaker.id