Dollar Moves Up Against Swiss Franc as Traders Wait for Fed News
The US dollar is getting stronger against the Swiss franc, now trading around 0.8285. This jump comes after a big rise in US consumer confidence. In May, confidence went up to 98.0 from 86.0 in April, showing that people feel more positive about the economy. Also, the US decision to delay higher tariffs on goods from the EU has made the market more hopeful, giving the dollar an extra boost.
Now, traders are waiting for the minutes from the Federal Reserve’s recent meeting. These notes could give clues about whether the Fed will raise interest rates or keep them the same. That decision could affect how strong the dollar gets in the coming days.
On the other side, the Swiss National Bank (SNB) is expected to cut its key interest rate to 0% at its next meeting on June 19. If that happens, it could make the Swiss franc weaker.
Impact: The dollar could rise more if the Fed sounds confident about the US economy. But if the Fed seems worried, or if economic data gets worse, the dollar’s gains might slow down.