USD/CHF trims part of its earlier gains on Friday as the US Dollar (USD) struggles to regain momentum following Thursday’s sharp sell-off, which was driven by suspected intervention by Japanese authorities to curb excessive weakness in the Japanese Yen (JPY).
At the time of writing, the pair trades around 0.8086 after reaching an intraday high of 0.8128. USD/CHF is still up around 0.45% on the day but is heading for a weekly loss.
The Greenback initially attempted to recover from six-week lows before losing strength after Reuters reported that the US Treasury had informed several banks it may intervene in the Yen market on Friday and advised…
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