USD/CHF trades with a mild positive bias around 0.9085 on Wednesday. The Fed's Kashkari comments have dampened hopes for potential interest rate cuts this year, lifting the Greenback. The uncertainties surrounding ceasefire talks between Israel and Hamas might boost the CHF and cap the pair’s upside. The recovery of the US Dollar is bolstered by hawkish remarks from Federal Reserve officials, which dampen hopes for potential interest rate cuts in 2024.
Investors will take more cues from the first reading of the US University of Michigan Consumer Sentiment Index on Friday,whichis projectedto easeto 76.0 in May from the previous reading of 77.2. On the Swiss front, ceasefire talks between Israel and Hamas remain uncertain. Israel's war cabinet agreed to continue the military attack against Hamas, with Israeli forces striking Gaza's southernmost city.