USD/CHF extends its losing streak for the fourth successive session, trading around 0.8430 during Friday’s Asian hours.
USD/CHF extends its decline due to dovish comments from the Fed officials. Fed’s Austan Goolsbee said that the longer-run trend of the labor market and inflation data justify the Fed easing soon. Swiss Foreign Currency Reserves will be eyed to gain further insights into the SNB ’s policy stance regarding the CHF. The dovish remarks from the Federal Reserve officials put downward pressure on the US Dollar and undermine 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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