USD/CHF holds its gains around 0.8480 during Thursday’s Asian hours following a volatile session on Wednesday due to the US Federal Reserve’s (Fed) interest rate decision.
USD/CHF maintains its position as the US Dollar appreciates after post-meeting comments from Fed’s Chair Powell. Fed’s Powell stated that 50 basis point rate cuts are not the “new pace”. The solid CHF leads to speculation of the SNB implementing a significant rate cut in 2024. USD/CHF holds its gains around 0.8480 during Thursday’s Asian hours following a volatile session on Wednesday due to the US Federal Reserve’s interest rate decision.
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.
Majors Macroeconomics Switzerland SNB
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