USD/CHF moves in the positive direction for the second consecutive day on Tuesday, advancing to near 0.9000 during the early European session.
USD/CHF faced challenges due to lower US Treasury yields on Tuesday. Fed’s member Raphael Bostic expressed his expectation for only one rate cut this year. Swiss Franc may cheer the risk aversion stemming from the EU’s investigations into major tech firms. USD/CHF moves inthe positive direction for the second consecutive day on Tuesday, advancing to near 0.9000 during the early European session. The US Dollar saw gains fueled by hawkish comments from US Federal Reserve officials.
Additionally, geopolitical tensions between Ukraine and Russia may prompt investors to seek refuge in safe-haven currencies such as the Swiss Franc . In its March meeting held on Thursday, the Swiss National Bank opted to cut interest rates by 25 basis points to 1.50%. This decision was driven by significant declines in both inflation and growth over the past year. The SNB projects inflation to average 1.9% in 2024, although the current inflation rate stands notably lower at 1.2%.
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