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USD/CHF declines to near 0.8240 on continuous underperformance from the US Dollar. Moody’s downgraded the US Sovereign Credit rating to Aa1 on Friday. The SNB is open to take interest rates to the negative trajectory. The USD/CHF pair slides to near 0.8240 during the European trading session, extending the losing streak for the third trading day on Wednesday. The Swiss Franc pair weakens as the US Dollar declines further in the wake of the United States (US) credit rating erosion after Moody’s downgraded the long-term issuer rating by one notch to Aa1 from Aaa. The US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, slumps to near 99.50, the lowest level seen in two weeks. Another reason behind weakness in the US Dollar on Wednesday is US President Donald Trump’s failure to convince Republicans to back the new tax-cut bill, which could increase the overall US debt by $3 trillion-$5 trillion. On the Swiss Franc (CHF) front, investors look for fresh cues on the Swiss National Bank’s (SNB) monetary policy outlook in a light Swiss economic calendar this week. The SNB has already clarified that the central bank is open to negative interest rates on the back of potential global economic turmoil due to the imposition of tariffs by US President Donald Trump. USD/CHF fails to gauge cushion near the monthly low of 0.8335, plotted from the April 25 low. The asset slides below the 20-day Exponential Moving Average (EMA), which trades around 0.8340, indicating that the near-term trend is bearish. The 14-day Relative Strength Index (RSI) oscillates inside the 40.00-60.00, suggesting a volatility contraction. Further downside below the May 7 low of 0.8186 would drag the asset towards the April 11 low of 0.8100, followed by the April 21 low of 0.8040. On the contrary,…

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Filed under: News - @ May 21, 2025 12:25 pm