The USD/CHF pair snaps the three-day losing streak around 0.8910 during the early European session on Monday.
USD/CHF trades on a stronger note near 0.8910 in Monday’s early European session. Fed’s Kashkari said that it is reasonable that the central bank will wait for more data until December to cut rates. The SNB is expected to keep its interest rate on hold at 1.5% as Switzerland’s inflation remains elevated. The firmer US Dollar in the wake of the Federal Reserve's hawkish stance, with the projection for only one rate cut in 2024, provides some support to the pair.
1 in the final reading in May, below the market consensus of 72. The UoM one-year Consumer Inflation Expectation held steady at 3.3%, while the five-year inflation outlook increased to 3.1% from 3.0%. However, these reports have little to no impact on the Greenback. On the Swiss front, the Swiss central bank is anticipated to keep its interest rate on hold at 1.5% at its June meeting on Thursday as inflation in Switzerland hit the highest since December 2023.
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