USD/CHF Reaches Monthly High Above 0.8000 as Dollar Stays Strong and Swiss Data Weakens
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In Switzerland, the economy looks weaker. Unemployment increased to 3.0% in September from 2.9% in August, and consumer prices fell by 0.2% compared to the previous month. This means inflation is slowing down, and the Swiss National Bank (SNB) might soon lower rates further to help the economy.
At the same time, the US Dollar Index (DXY) rose 0.3% to around 98.90, its strongest level in two months. Traders are now waiting for the Federal Reserve’s FOMC meeting minutes to see what comes next. In the last meeting, the Fed cut rates by 25 basis points, bringing them to 4.00–4.25%, and hinted at two more cuts before the year ends.
Impact:
If the US dollar stays strong and Swiss data remains weak, the USD/CHF could keep moving higher. The upcoming Fed minutes might also cause some short-term market moves.