In the Asian market on Tuesday (June 6), the USD/CHF rose, tentatively at 0.9058, an increase of 0.02%. Institutional analysis said that although data on Monday showed that inflation in Switzerland eased in May, the Swiss National Bank appeared to raise interest rates further at its meeting on June 22, but the rate hike was unlikely to prevent the downward correction of the Swiss franc.
The latest developments from the Swiss National Bank:
Year-to-date, the Swiss franc remains the second-best performing currency in the G10 against the U.S. dollar, after the pound, analysts said, but its strength since the U.S. regional banking crisis in March is fading, and even if the domestic central bank renews its A rate hike is also unlikely to prevent USD/CHF from consolidating further above 0.91.
