USD/CHF flirts near 0.9250 as US T-bond yields rises

• USD/CHF trades modestly higher on Tuesday in the early Asian trading hours. 
• The US Dollar Index remains strong above 93.40.
• The pair moves in the familiar range of 0.9250 and 0.9280 for the past few sessions.

The USD/CHF pair consolidates gains after posting strong upside momentum in the US session. The pair hovers in a very narrow trade range of less than 10-pips following fresh daily gains near 0.9290 on Monday. At the time of writing, USD/CHF is trading at 0.9257, down 0.01% for the day.

The appreciative moves in the greenback keeps USD/CHF on the higher side. The US Dollar Index (DXY), which measures the performance of the greenback against the basket of six major currencies, stays strong above 93.40. The US 10-year benchmark Treasury yields trades near 1.49% ahead of the US Fed Chair testimony.The US Fed Chair Jerome Powell is expected to talk about the “upside risk” to inflation as disruptions, hiring difficulties, and the continuation of other drivers of price pressures, but will continue to discard these pressures as transitory according to the remark prepared ahead of his testimony due Tuesday for the Senate banking Committee.

In addition, the New York Fed President John Williams warned of the potential negative impact if the US government failed to solve its debt-ceiling issue. The US Congress approaches the September 30 deadline to avert the shutdown of government services in the context of the funding of government and to address the nation’s $28.4 trillion debt ceiling. Meanwhile, Dallas Fed President Robert Kaplan and Boston Fed President Eric Rosengren announced their retirement on October 8 and September 30 respectively. The move followed after the two came under scrutiny for investment trades. The move did little significant to the greenback.

It is worth noting that, S&P 500 Futures is trading at 4,427.25, down 0.13%.

On the other hand, the Swiss franc manages to gain some traction on its safe-haven appeal  as China's Evergrande debt-crisis continues to cloud market sentiment.

As for now, traders wait for the US Goods Trade Balance August, S&P/Case-Shiller Home Price, CB Consumer Confidence SEP, and Fed Chair Powell Testimony.

USD/CHF additional levels