USD/CHF slips to five-month lows as Swiss Franc draws haven bids

• The US-Iran war has unsettled risk assets in Asia. 
• The Swiss Franc and other safe havens are drawing bids. 
• The USD/CHF has dropped to the lowest level since mid-August. 

Swiss Franc is drawing haven bids as the Iranian attack on US bases in Iraq has unsettled risk assets, triggering a flight to safety. 

The USD/CHF pair is currently trading at 0.9671, representing a 0.35% drop on the day. Also, 0.9671 is the lowest level since August 13. 

US-Iran tussle

Iran attacked US assets in Iraq early Wednesday in response to last Friday's US killing of top Iranian military commander. 

The attack has been confirmed by the US and there are reports of American casualties. 

As per the latest reports, the US national council is meeting following Iranian ballistic missile attack and with elections due in November, President Trump may feel forced to launch a stronger retaliatory attack on Iran. 

The risk assets, therefore, are bleeding with the Dow futures currently reporting a 400 point drop. The stocks in Asia are also flashing red. For instance, Japan's Nikkei index is down more than 500 points at press time. 

Meanwhile, the Swiss Franc and other classic haven assets like gold, Japanese yen, and US treasuries are gaining ground. 

Technical levels