The USD/CHF pair trades on a firmer note near 0.8655 on Monday during the early European trading hours.
USD/CHF trades in positive territoryaround 0.8655 in Monday’s early European session. The bets of a less aggressive Fed rate cuts support the USD. The Middle East geopolitical tensions could boost the Swiss Franc. The prospect that the USFederal Reserve will proceed with modest rate cuts over the next year underpins the Greenback against the Swiss Franc . However, the ongoing geopolitical tensions in the Middle East might cap the pair’s upside.
Even though the peg isn’t in force anymore, CHF fortunes tend to be highly correlated with the Euro ones due to the high dependency of the Swiss economy on the neighboring Eurozone. Why is the Swiss Franc considered a safe-haven currency? The Swiss Franc is considered a safe-haven asset, or a currency that investors tend to buy in times of market stress.
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