The USD/CHF pair posts a fresh weekly low near 0.8430 in Wednesday’s European session.
USD/CHF falls to near 0.8430 as traders’ big bets on Fed large rate cuts weigh on the US Dollar. The Fed is poised to deliver its first interest rate cut decision in more than four years. Investors expect the SNB to cut interest rates further in its policy meeting later this month. The Swiss Franc asset weakens as the US Dollar falls back after a short-lived pullback move. The US Dollar Index , which tracks the Greenback’s value against six major currencies, declines to near 100.70.
Ahead of the Fed’s policy decision, the risk appetite of investors is high. S&P 500 futures have posted decent gains in European trading hours. Meanwhile, the Swiss Franc performs strongly against the US Dollar despite growing speculation that the Swiss National Bank will extend the policy-easing cycle in September’s monetary policy. The SNB is expected to deliver a third straight interest rate cut as the Swiss inflation has softened significantly.
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