USD/CHF trades around 0.8980 during the European hours on Thursday, grappling to hold ground near its two-week high of 0.8983, recorded on Wednesday.
USD/CHF holds ground near its two-week high of 0.8983. US GDP Annualized is expected to slightly increase by 1.4%, against the previous growth of 1.3%. The US Dollar may draw some support from the higher yields. Investors await the release of the US GDP Annualized due later in the North American session. The report is expected to show a slight increase of 1.4% from the previous growth of 1.3%.
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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