The USD/CHF pair extends its losing streak for the fourth trading day on Monday.
USD/CHF falls below 0.9000 amid a weak US Dollar. The Fed is expected to start lowering interest rates in September. Easing Swiss inflation has boosted prospects of more rate cuts by the SNB . The Swiss Franc asset stays below the psychological figure of 0.9000 as the US Dollar’s outlook appears to be vulnerable due to growing speculation that the Fed eral Reserve will pivot to policy normalization from the September meeting.
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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