USD/CHF Rises After Hormuz Incident
The USD/CHF currency pair strengthened in Asian trading on Friday (June 12th), after weakening more than 0.5% in the previous session. USD/CHF hovered around 0.7960 as the US dollar regained support from rising risk aversion in global markets.
Risk sentiment was further disrupted after US forces reportedly shot down two Iranian attack drones targeting commercial vessels near the Strait of Hormuz. This renewed tension sent investors seeking safer assets, including the US dollar.
However, risk pressures eased slightly after US President Donald Trump signaled that a comprehensive peace deal with Iran could be finalized soon. The agreement is expected to reopen shipping lanes in the Strait of Hormuz and secure Iran's commitments regarding its nuclear program.
In Switzerland, market attention was also focused on Geneva, which was bracing for large anti-G7 demonstrations over the weekend. Around 50,000 protesters are expected to attend, while the government deployed 4,000 troops and closed 27 Swiss-French border crossings to tighten security. (asd)
Source: Newsmaker.id