USD/CHF appreciates and trades around 0.8680 during the early European hours on Wednesday.
USD/CHF rises as US Dollar advances amid higher Treasury yields. Fed’s Daly stated that the economy is evidently in a stronger position, with a significant decline in inflation. Lower Swiss inflation strengthens the likelihood of the SNB delivering another rate cut in December. This upside of the pair could be attributed to solid US Dollar . Additionally, improved US Treasury yields also contributed support for the Greenback and underpinned the USD/CHF pair.
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.
Majors Macroeconomics Switzerland SNB
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