The options market turns most bullish on the USD/CHF in over a week, per the latest data from Reuters.

One-month risk reversal (RR) of USD/CHF, a gauge of calls to puts, snaps a three-day downtrend to rise the most since November 01, per Reuters. That said, the latest USD/CHF RR is +0.150 versus the -0.050 figure marked on Friday.

Although the RR suggests the market’s bullish bias, the USD/CHF prices remain sluggish, around 0.9130 at the latest.

This could be linked to the market’s anxiety over the Fed reshuffle, US stimulus and tapering tantrums.

Read: S&P 500 Futures snap five-day uptrend on mixed concerns, Fed’s Powell eyed

However, today’s speech from Fed Chairman Jerome Powell can provide short-term clarity over the market moves. In his latest speech, the Fed Boss dumped ‘transitory’ concern over inflation and renewed market fears.