The USD/CHF pair edges lower to near 0.8820 amid the decline of US Dollar (USD) during the early European session on Wednesday.
USD/CHF loses traction around 0.8820 in Wednesday’s early European session. Markets expect the Fed to keep the benchmark rates at 5.25%- 5.50% on Wednesday. The uncertainty and ongoing Middle East geopolitical tensions might lift the Swiss Franc, creating a headwind for USD/CHF. The USD/CHF pair edges lower to near 0.8820 amid the decline of US Dollar during the early European session on Wednesday.
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.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/CHF remains below 0.8900 due to the dovish mood surrounding the FedUSD/CHF halts its three-day winning streak, trading around 0.8890 during the Asian session on Tuesday.
Read more »
USD/CHF attracts some buyers near 0.9040, eyes on Fed’s Powell speechThe USD/CHF pair gains traction near 0.9040, the highest level since May 31 during the early European session on Tuesday.
Read more »
USD/CHF extends losing streak as Fed rate cut prospects improveThe USD/CHF pair extends its losing streak for the fourth trading day on Monday.
Read more »
USD/CHF holds positive ground above 0.8950, Fed Powell’s testimony eyedThe USD/CHF pair trades in positive territory for the second consecutive day around 0.8980 on Tuesday during the early European session.
Read more »
USD/CHF falls half a percent amid expectations the Fed will cut interest rates multiple timesThe USD/CHF pair trades down in the 0.8850s on Wednesday, driven by growing expectations that the US Federal Reserve (Fed) will cut interest rates in September.
Read more »
USD/CHF extends upside above 0.8850, eyes on Fed rate decisionThe USD/CHF pair extends the rally near 0.8870 during the early European session on Tuesday.
Read more »