USD/CHF offers its recent gains as the US Dollar (USD) corrects downwards after breaking its four-day winning streak.
USD/CHF edges lower due to the softer US Dollar amid increased odds of a Fed rate cut next week. CME FedWatch Tool indicates nearly a 99% likelihood of a 25 basis point rate cut on December 18. The Swiss Franc remains stable ahead of an SNB Interest Rate Decision later on Thursday. USD/CHF offers its recent gains as the US Dollar corrects downwards after breaking its four-day winning streak. The USD/CHF pair trades around 0.8840 during the Asian hours on Thursday.
The Swiss Franc remains relatively stable in anticipation of the Swiss National Bank cutting its key policy rate by 25 basis points at its meeting later in the day. This rate cut will mark the fourth consecutive reduction, as inflation remains comfortably within the central bank’s 0-2% target range. However, some economists anticipate a bumper 50 basis point cut in December to boost economic growth as Swiss consumer price inflation rose to 0.7% in November, up from 0.
Majors Macroeconomics SNB Switzerland
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