The USD/CHF pair softened to near 0.8855 during the early European session on Wednesday, pressured by the weakening US Dollar ahead of October inflation data. The US Dollar Index edged lower, influenced by profit-taking and cautious market sentiment ahead of the US PCE data. Fed officials suggested a gradual approach to interest rate cuts, while rising Middle East tensions could bolster the Swiss Franc as a safe-haven currency.
USD/CHF weaken to around 0.8855 in Wednesday’s early European session. Fed officials see interest rate cuts ahead, but only gradually, FOMC Minutes showed. The rising Middle East geopolitical tensions could boost the safe-haven currency like the Swiss Franc. The USD/CHF pair softens to near 0.8855 during the early European session on Wednesday. Theweakening of the US Dollar ahead of the US Octoberinflation data weighs on the pair.
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.
USD/CHF WEAKEN FED INTEREST RATES SAFE-HAVEN MIDDLE EAST TENSIONS
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 drifts lower to near 0.8750, Fed rate decision loomsThe USD/CHF pair softens to near 0.8750 during the early European trading hours on Thursday.
Read more »
USD/CHF softens to near 0.8650 ahead of US PCE inflation dataThe USD/CHF pair drifts lower to around 0.8655 during the early European session on Thursday.
Read more »
USD/CHF weakens to near 0.8850 ahead of US PMI dataThe USD/CHF pair trades with mild losses around 0.8860 during the early European session on Friday.
Read more »
USD/CHF remains below 0.8650, market caution emerges ahead of US presidential electionUSD/CHF holds ground after registering losses in the previous session, trading around 0.8640 during the Asian hours on Tuesday.
Read more »
USD/CHF trades firmer to near 0.8650 as traders await the US NFP dataThe USD/CHF pair gathers strength to near 0.8640 during the early European session on Friday.
Read more »
USD/CHF strengthens above 0.8850 on bullish US Dollar, traders brace for FOMC MinutesThe USD/CHF pair holds positive ground around 0.8875 during the early European session on Tuesday.
Read more »