The USD/CHF pair hovers below the psychological resistance of 0.8500 in Monday’s American session.
USD/CHF steadies below 0.8500 as the Fed looks all set to cut interest rates in September. The US Dollar fails to recover strongly despite upbeat US Durable Goods Orders data for July. Swiss Q2 Employment Level rose to 5.499 million. The Swiss Franc asset remains in the bearish trajectory as Fed eral Reserve September interest rate cuts have been fully priced in by market participants, which have weighed on the US Dollar and have improved the appeal of risky assets.
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.
Employment Fed Interestrate Dollarindex
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