USD/CHF encounters challenges amid renewed expectations for rate cuts by the Fed in 2024. Fed is anticipated to execute its initial rate cut in September, against the earlier forecasts in November. SNB Chairman Thomas Jordan may offer fresh cues on policy stance during the BIS Innovation Summit 2024. The weaker US Dollar puts pressure on the USD/CHF pair, which could be attributed to the revived expectations for potential interest rate cuts by the US Federal Reserve later this year.
8%, up from 43.8% just a week ago. On the Swiss side, data released on Thursday showed that annual inflation in Switzerland accelerated more rapidly than expected in April. The Swiss Consumer Price Index inflation rose to 1.4% year-on-year in April from a previous increase of 1.0% in March, surpassing the market consensus of 1.1%. This unexpected acceleration has lent support to the Swiss Franc .