USD/CHF strengthens to near 0.8950 despite weak US economic data, tariff worries
The post USD/CHF strengthens to near 0.8950 despite weak US economic data, tariff worries appeared on BitcoinEthereumNews.com.
USD/CHF gains momentum to around 0.8950 in Wednesday’s early European session, adding 0.25% on the day. The cautious stance from the Fed supports the US Dollar. The risk-off mood and ongoing Russia-Ukraine conflicts could boost the safe-haven flows, benefiting the CHF. The USD/CHF pair edges higher to near 0.8950, snapping the four-day losing streak on Wednesday during the early European trading hours. The US Dollar (USD) recovers from an 11-week low despite weak US economic data and tariff worries from US President Donald Trump. The cautious stance from the US Federal Reserve (Fed) helps limit the USD’s losses. Richmond Fed President Thomas Barkin said late Tuesday that he will follow a wait-and-see approach regarding central bank interest rate policy until it is clear inflation is returning to the Fed’s 2% goal. Meanwhile, Chicago Fed President Austan Goolsbee stated on Monday that the US central bank needs greater clarity before considering interest rate cuts. However, the soft US Conference Board’s Consumer Confidence Index could weigh on investor sentiment and exert some selling pressure on the Greenback. The US Consumer Confidence Index dropped to 98.3 in February from 105.3 in January, its largest fall since August 2021. The result added to other weak data, pushing expectations toward two quarter-point interest rate cuts by the Fed this year, with the next likely coming in July, according to the CME FedWatch tool. The uncertainty and ongoing Russia-Ukraine conflicts could boost the safe-haven currency like the Swiss Franc (CHF). Russian President Vladimir Putin said on Monday that Europe’s participation in Ukraine peace talks will be needed eventually but Moscow first wants to build trust with Washington, adding that a deal to end the conflict may still be far off. Swiss Franc FAQs The Swiss Franc (CHF) is Switzerland’s official currency. It is among the top ten most…
Filed under: News - @ February 26, 2025 7:25 am