USD/CHF holds below 0.8950 amid Middle East geopolitical risks

📆 6/25/2024 6:55 AM
📰 FXStreetNews

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Majors,Macroeconomics

The USD/CHF pair weakens around 0.8925 on Tuesday during the early Asian trading hours.

USD/CHF trades on a weaker note near 0.8925 in Tuesday’s early Asian session. Fed policymakers retain a cautious approach to rate cuts, emphasizing that their decisions would be data-dependent. The Swiss Franc is supported by the escalating geopolitical tensions in the Middle East and Ukraine. The downtick of the pair is backed by a weaker US Dollar broadly. Investors will keep an eye on the Swiss SNB Quarterly Bulletin for the second quarter on Wednesday.

The speeches from the Fed’s Lisa Cook and Michelle Bowman later on Tuesday might offer some hints about the interest rate trajectory this year. The hawkish comments from the Fed policymakers could lift the Greenback and cap the downside for USD/CHF. On the other hand, the ongoing geopolitical tensions in the Middle East and Ukraine might boost the safe-haven flows, which benefit the Swiss Franc .

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