USD/CHF rises to near 0.7830 amid renewed Mideast tensions

The USD/CHF pair trades 0.13% higher to near 0.7830 during the Asian trading session on Monday. The Swiss Franc pair rises as the US Dollar (USD) trades higher, following Iran’s denial to attend the second round of talks with the United States (US).

During the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.1% higher to near 98.30.

Over the weekend, the Islamic Republic News Agency (IRNA) reported that Tehran refuses to sit down with US delegates for another round of talks due to Washington’s “excessive demands, unrealistic expectations, constant shifts in stance, repeated contradictions, and the ongoing naval blockade”.

Before Iran’s refusal to extend negotiation talks, US President Donald Trump accused Tehran of violating ceasefire terms, through a post on Truth Social, by firing at a French Ship, and a freighter from the United Kingdom (UK).

On the domestic front, investors await the US Retail Sales data for March, which will be released on Tuesday. The Retail Sales data, a key measure of consumer spending, is estimated to have grown 1.3% Month-on-Month (MoM), faster than the previous reading of 0.6%.