Dollar Strengthens, USD/CHF Holds at Monthly High
The USD/CHF pair remained strong and held around the 0.8000 level in late Asian trading on Thursday. This movement occurred as the US dollar continued to show strong performance, supported by market confidence that the Federal Reserve would temporarily halt interest rate cuts at this month's meeting.
The dollar's strength was evident in the US Dollar Index, which remained near its monthly high. High US inflation data has led the market to believe the Fed will not cut interest rates anytime soon. Furthermore, US tariffs on advanced chip imports have also increased investor interest in the dollar as a safe haven asset.
Meanwhile, the Swiss Franc has moved relatively stable. The Swiss Central Bank is expected to remain unchanged on its monetary policy as inflation remains low. With interest rates still at 0% and the central bank's very loose stance, the CHF lacks a strong catalyst to rival the strengthening US dollar. (az)
Source: Newsmaker.id