The USD/CHF currency pair is trading sideways with a slight downward bias, holding around 0.8830 during early European trading on Monday. The US Dollar (USD) is under pressure due to easing inflation and labor market conditions in the United States, which have heightened expectations of three potential rate cuts by the Federal Reserve (Fed) this year, starting in September.
Recent data revealed that the US Personal Consumption Expenditures (PCE) Price Index showed a modest increase in inflation for June, indicating easing price pressures. The PCE Price Index rose by 2.5% year-over-year in June, a slight decline from 2.6% in May, aligning with market expectations. On a monthly basis, the index increased by 0.1% in June, after remaining unchanged in May.
However, the US Core PCE inflation, which excludes volatile food and energy prices, also rose to 2.6% in June, matching the increase observed in May and exceeding the forecast of 2.5%. The Core PCE Price Index increased by 0.2% month-over-month in June, up from 0.1% in May.
In Switzerland, Swiss National Bank (SNB) Chairman Thomas Jordan, who is set to step down at the end of September, addressed monetary policy in an interview with Bieler Tagblatt. Jordan remarked, “I would rather be considered boring or stubborn than be criticized for following the wrong monetary policy.” He emphasized that the SNB has consistently navigated challenges and made sound decisions throughout his tenure.
Related Topics:
- Current CHF Exchange Rate: 100 Swiss Franc in Naira
- Current CHF Exchange Rate: 100 CHF in EUR
- Current CHF Exchange Rate: 10,000 CHF to USD
