One-month risk reversal (RR) of USD/CHF, a gauge of calls to puts, drops for the fourth consecutive day to recently around -0.012 per the data source Reuters.

It’s worth noting that the daily RR slumped the most in a month the previous day amid the market’s risk-off mood, down -0.413, whereas the weekly reading marked the lowest prints in 14 months with a -0.513 level for the week ended on November 26, per Reuters.

Hence, it appears that the options market bears are holding controls tightly amid indecision over the Fed’s next move and fresh covid woes triggered by ‘Omnicron’.

That said, the USD/CHF pair consolidates the biggest daily losses since March 2020 by the press time of early Monday, up 0.30% intraday around 0.9255.

Moving on, speeches from US President Joe Biden and Federal Reserve (Fed) Chairman Jerome Powell will be important for the USD/CHF traders to watch for fresh impulse.

This article was originally published by the original article here.