USD/CHF rebounds possibly due to the hawkish remarks from Fed officials. Fed Chair Powell said that it may take longer than expected to gain confidence if inflation is weakening. The Swiss KOF Leading Indicator indicated robust development in the domestic economy. The US Dollar appreciates, possibly due to hawkish remarks from US Federal Reserve officials, indicating no immediate need for rate cuts. This has underpinned the USD/CHF pair.
Although the figure suggests stabilization above the long-term average, indicating robust development in the Swiss economy, there is no strong upward momentum anticipated soon. According to a report from Bloomberg, Swiss National Bank Chairman Thomas J. Jordan said last Friday that the central bank is dedicated to closely monitoring inflation. Jordan emphasized that the SNB is prepared to lower interest rates further if needed.