USD/CHF is trading lower for a 4th consecutive session.
US Dollar Index (DXY) is testing 93.00 before the US opens.
Wall Street is set to open firmly higher
Last week, USD/CHF failed to push beyond 0.9200 closing in the red.
USD slipped lower on Monday; USD/CHF extended losses, striking a daily low of 0.9065. At 12:30 UTC, USD/CHF trades -0.2% at 0.9068.
USD out of favour as risk sentiment rises
DXY closed higher for the second straight week last week as investors sought out the safe haven properties of the USD. However, this week, risk appetite is improving meaning that the USD is out of favour. DXY trades-0.28% on a daily basis at 93.01.
There is no high impacting US data due to be released today. Investors will be watching movements on Wall Street closely.
News that AstraZeneca is restarting its covid-19 vaccine candidate trials boosted the mood in the market. As did reports surrounding, Pfizer and BioNTech as they could increase their phase-3 coronavirus vaccine trial to around 44,000 participants, a significant increase from the 30,000 initially planned.
S&P 500 futures trade +1.3%.
A sharp move higher in US stock indexes could put added pressure on USD in the latter part of the trading day.