Forex
US Dollar Tumbles as Treasury Buyback News Sets off Chain Reaction
The USD/CHF pair plummeted nearly 2% on Wednesday as US Treasury buyback news sent shockwaves through the market, pushing the Greenback into a tailspin.
US Treasury yields also declined in tandem with the dollar's fall. At its highest point of the day, the pair reached 0.8128 but quickly fell below key support levels, including the 50-day Simple Moving Average (SMA) at 0.8084.
Technically speaking, the USD/CHF is still upward-biased since it bottomed out at 0.7604 in late January 2026 and rallied towards its yearly high above 0.8200 before the US Treasury's announcement.
The Relative Strength Index (RSI) fell from around 51 to 36.48, indicating a shift in momentum that favors sellers.