The USD/CHF pair recovers some lost ground to around 0.8835, snapping the three-day losing streak during the early European session on Wednesday.
USD/CHF rebounds to near 0.8835 in Wednesday’s early European session. Markets have pared bets for a 25 bp) interest-rate cut at the December meeting. Any signs of escalating tensions between Russia and Ukraine could boost the CHF, a safe-haven currency. The growing expectations for a less aggressive policy easing by theFederal Reserve provide some support to the pair. Later on Wednesday, the Fed Lisa Cook and Michelle Bowman are set to speak.
This is due to the perceived status of Switzerland in the world: a stable economy, a strong export sector, big central bank reserves or a longstanding political stance towards neutrality in global conflicts make the country’s currency a good choice for investors fleeing from risks. Turbulent times are likely to strengthen CHF value against other currencies that are seen as more risky to invest in.
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