The USD/CHF pair faces an intense sell-off and slides below the round-level support of 0.8600 in Tuesday’s North American session.
USD/CHF slides below 0.8600 amid weakness in the US Dollar. Investors want to know how much the Fed will reduce interest rates in September. Market participants should brace for high volatility amid an eventful US week. The Swiss Franc asset plummets as the US Dollar has declined to a multi-month low as investors seemed to be strongly confident that the Fed eral Reserve will start reducing interest rates from the September meeting.
6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away.
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