The USD/CHF pair gains traction above 0.9200 during the early European session on Tuesday. The upside of the pair is bolstered by the firmer US data a
The latest data from the Swiss Federal Statistical Office revealed on Tuesday that the nation’s Consumer Price Index for September came in at 1.7% YoY from the previous reading of 1.6%, worse than the expectation of 1.8%. On a monthly basis, the inflation figure fell to 0.1%% versus a 0.2% rise prior, below than the market consensus of 0%. In response to the downbeat data, the Swiss Franc loses momentum against the US Dollar.
The Federal Reserve Bank of Cleveland President, Loretta Mester, stated earlier on Tuesday that the Fed will likely need to raise interest rates again this year and the Fed's monetary policy path will depend on how the economy performs. In addition,Governor Michelle Bowman stated on Monday that it will likely be necessary to raise the policy rate further and maintain it at restrictive levels for an extended period of time.
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