USD/CHF holds positive note above 0.9150, eyes on Middle East geopolitical risks

USD/CHF gains ground around 0.9150 on Monday. The hawkish signalsfrom Fed officials and stronger US economic data support the USD. The Middle East geopolitical tensions might boost the Swiss Franc and cap the pair’s upside. The expectation that the US Federal Reserve will start cutting interest rates from the September meeting provides some support to the US Dollar and lifts the pair.

7% MoM in April following a downwardly revised 0.8% advance in March, above the market consensus of -0.8%. Meanwhile, the University of Michigan Consumer Sentiment Index eased to 69.1 in May from 67.4 in April, but was stronger than the estimated 67.5. On the Swiss front, CNN reported early Monday that at least 35 Palestinians were killed and dozens more were injured as a result of Israeli air attacks on a camp in Rafah for displaced people on Sunday, the Ministry of Health in Gaza said.

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