USD/CHF remains subdued below 0.9150 ahead of Fed minutes

• USD/CHF remains muted on Wednesday in the European session.
• Higher US Treasury yields underpin the demand for the US dollar.
• The Swiss franc gains on its safe-haven appeal amid coronavirus jitters and global growth recovery.

USD/CHF consolidates gains in the initial European trading hours on Wednesday. After testing the high at around 0.9240 on Friday, the pair retraced back and made a low of 0.9100  in the previous session.

At the time of writing, USD/CHF is trading at 0.9143, up 0.02% for the day.

The US Treasury yields recover from the lows and trades at 1.27% with  1.49% % gains. The US Dollar Index (DXY) moves in tandem with the benchmark 10-year yields above 93.00.

The greenback is being supported by the nervous risk environment.  Retails Sales in the US edged lower more than expected in July whereas Industrial Production jumped 0.9% in July, beating the market expectations of 0.5%.

Investors now turn their attention to the minutes from the Fed’s latest meeting for further clarification on the next monetary policy stance.

It is worth noting that S&P 500 Futures were trading at 4,448.08, down 0.71%.

As for now, traders are waiting for the US Housing Starts data to gauge the market sentiment.

USD/CHF additional levels