![]() Yen’s perceived safe-haven status coming under focus amid the banking crisis, and USDJPY slumped below 133 from 135. Today where a 50bps rate hike may look too bold now. USDCHF surged back above 0.93 after touching lows of 0.91 earlier this week on CHF’s safe-haven demand which has come under question due to concerns on Credit Suisse and Swiss banking sector. US data failed to take the limelight away but softer February PPI and downward revisions in the previous print again lowered the probability of a Fed rate hike next week. ![]() The US dollar charged higher as the Swiss Franc and Euro slumped amid rising concerns on European banks (read below). ![]()
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