The Swiss franc’s safe-haven appeal doesn’t work on AUD

The Swiss franc’s safe-haven appeal doesn’t work on the Australian dollar as the risk sentiment bounces back. The reason for that is the gradual reopening plans of major economies across the globe amidst the ongoing battle against the coronavirus pandemic. The pair is widely projected to peak to its resistance area by the first half of the month as bullish investors step on their gas pedals to propel the pair higher. Fortunately for the Australian dollar, the positive results recorded from its economic activity yesterday is helping it in the foreign exchange market today. The Australian Bureau of Statistics recently reported a drop from 0.7% to 0.3% in the country’s consumer price index, better than the projected 0.2% prior. Official figures shown yesterday suggests that the Australian economy remains resilient despite the massive blows it has taken just this 2020. It also helped boost the confidence of bullish investors of the AUD/CHF pair.