The USD/CHF pair trades on a positive note near 0.9125, the highest level since October 2023 on Thursday during the early European session.
USD/CHFgains momentumnear 0.9125 on Thursday. The headline US CPI rose 0.4% MoM in March, while the yearly CPI figure advanced 3.5% YoY, hotter than expected. The uncertainty and ongoing geopolitical tensions in the Middle East might lift the CHF and cap the pair’s upside. The USD/CHF pairtrades on a positive note near 0.9125, the highest level since October 2023 on Thursday during the early European session.
Furthermore, Minutes of the last Fed meeting suggested that participants were worried about elevated inflation and the recent data did not help the Fed gain confidence that inflation moved sustainably towards the 2% target. The higher-for-longer US rate narrative lifts the USD and creates a tailwind for the USD/CHF pair.
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