It’s not looking good for the dollar again with both the euro and franc pretty much erasing losses from yesterday already. EUR/USD is up 0.6% to 1.1345 while USD/CHF is down 0.9% to 0.8150 levels and threatening to fall back to the Friday and Monday lows.
USD/CHF daily chart
Elsewhere, USD/JPY is down 0.5% to 142.50 while the commodity currencies are holding a slight advance against the greenback today. AUD/USD is seen up 0.1% to 0.6348 despite the negative risk rhetoric in play.
In case you missed it, the US moved to ban Nvidia from selling its H20 chips to China earlier here. That’s the big headline weighing on the risk mood but also there’s still no signs of any progress towards a Trump-Xi call. And so, the dance continues. All the while, markets will be left to think about the economic pain and ramifications from tariffs.
As for the dollar itself, there are a multitude of reasons why it is continuing to fall out of favour in this period.
