USD/CHF remains tepid for the second successive day, trading around 0.8650 during the Asian hours on Wednesday.
USD/CHF edges lower as the US Dollar faces challenges amid dovish sentiment surrounding the Fed. Traders adopt caution ahead of US CPI inflation report due on Wednesday. The Swiss Franc could have received support from safe-haven flows amid rising geopolitical tensions in the Middle East. The USD/CHF pair faces challenges as the US Dollar struggles with dovish sentiment surrounding the US Federal Reserve regarding its monetary policy outlook.
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
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