One-month risk reversal of USD/CHF, a gauge of calls to puts, snaps a two-day downtrend on daily reading but stays on course to rise for the first time in three weeks on the weekly basis, per the latest data from Reuters.
That said, Risk reversals flashed a -0.012 figure for August 05, suggesting bearish bias among the USD/CHF traders, whereas the weekly reading flashes +0.013 mark by the press time, signaling the return of the bulls.
This portrays typical pre-NFP indecision among the traders and hence warrants a close reading of today’s US employment data. Also important will be the updates on the US infrastructure spending and covid news.
Against this backdrop, USD/CHF refreshes weekly high to 0.9082, up 0.08% around 0.9077 by the press time.
It should, however, be noted that the pair’s ability to cross the 200-DMA on Friday keeps buyers hopeful.