USD/CHF climbs to 4-week tops, eyeing a move beyond 0.9900 handle

• US-China trade optimism seemed to weigh on traditional safe-haven currencies.
• The USD remained well supported by a follow-through uptick in the US bond yields.
• Traders now look forward to the US economic data for some short-term impetus.

The USD/CHF pair climbed to the 0.9900 neighbourhood, or four-week tops in the last hour, albeit quickly retreated few pips thereafter.
 
The pair extended this week's solid bounce from the vicinity of the 0.9700 handle - testing at the start of the current trading week - and remained well supported by the latest US-China trade optimism, which seemed to undermine the Swiss Franc's perceived safe-haven demand.

Risk-on mood/USD strength remains supportive

The pair's ongoing positive momentum - summing up to nearly 200-pips over the past five trading sessions - was further supported by a follow-through US Dollar buying interest through the early European session on Friday amid recovering US Treasury bond yields.
 
Moving ahead, Friday's US economic docket - highlighting the releases of personal spending data and July core PCE price Index - might influence the USD price dynamics and contribute towards producing some short-term trading opportunities on the last day of the week.

Technical levels to watch