The USD/CHF pair trades on a flat note near 0.8655 during the early European session on Thursday.
USD/CHF trades flat around 0.8655 in Thursday’s early European session. The US CPI inflation eased to 2.9% in July, the smallest increase since March 2021. The rising Middle East geopolitical tensions might boost the safe-haven flows, benefiting the CHF. Traders might prefer to wait on the sidelines ahead of the top-tier US economic data on Thursday. Meanwhile, the USD Index , a measure of the value of the US Dollar relative to a basket of foreign currencies, currently trades around 102.
Between 2011 and 2015, the Swiss Franc was pegged to the Euro . The peg was abruptly removed, resulting in a more than 20% increase in the Franc’s value, causing a turmoil in markets. 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.
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