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USD/CHF lower on risk aversion

The initial risk-off bias seems to be spreading into the European trading hours today, bolstering the demand for safe havens like CHF and JPY and thus prompting spot to recede towards the 0.9600 handle.

The recurrent weakness around the greenback has been heavily weighing on the pair as of late, testing fresh 2016 lows around 0.9570 on Thursday.

Next of relevance will be Retail Sales in Switzerland, followed by the more relevant US calendar: Non-farm Payrolls, ISM Manufacturing, Markit’s Manufacturing PMI and Reuters/Michigan index.

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