- The Swiss Franc weakens against the US Dollar amid firm Fed interest rate hike expectations.
- The US and Iran announce ceasefire 2.0 as Tehran agrees to Hormuz reopening and nuclear terms.
- Investors await the US NFP data for fresh cues regarding the Fed’s monetary policy outlook.
The Swiss Franc (CHF) trades lower against its major currency peers at the start of the week. The USD/CHF pair rises 0.15% to near 0.8082 as a market-sentiment revival following the announcement of a ceasefire in the Middle East has diminished the appeal of safe-haven assets.
Swiss Franc Price Today
The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today. Swiss Franc was the weakest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.01% | 0.13% | -0.47% | 0.09% | -0.13% | -0.08% | 0.17% | |
| EUR | 0.01% | 0.13% | -0.51% | 0.10% | -0.14% | -0.03% | 0.15% | |
| GBP | -0.13% | -0.13% | -0.59% | -0.06% | -0.26% | -0.16% | 0.04% | |
| JPY | 0.47% | 0.51% | 0.59% | 0.51% | 0.27% | 0.40% | 0.55% | |
| CAD | -0.09% | -0.10% | 0.06% | -0.51% | -0.23% | -0.11% | 0.03% | |
| AUD | 0.13% | 0.14% | 0.26% | -0.27% | 0.23% | 0.10% | 0.29% | |
| NZD | 0.08% | 0.03% | 0.16% | -0.40% | 0.11% | -0.10% | 0.21% | |
| CHF | -0.17% | -0.15% | -0.04% | -0.55% | -0.03% | -0.29% | -0.21% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Swiss Franc from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CHF (base)/USD (quote).
Over the weekend, United States (US) President Donald Trump shelved planned attacks on Iran, clarifying that Tehran agreed to the nuclear deal and the reopening of the Strait of Hormuz.
At press time, S&P 500 futures are 0.6% higher to near 7,535, reflecting a risk-on mood. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.1% lower to near 99.70.
Though the US Dollar Index is also down, it is trading higher against the Swiss Franc amid expectations that the Federal Reserve (Fed) will raise interest rates in the near term.
According to TD Securities, the strength of underlying US activity is increasingly calling into question how tight current Fed policy actually is, with the bank noting that “robust activity is also another sign that policy may not be that restrictive.” At the same time, TD Securities cautions that inflation dynamics remain critical: “If core services inflation continues to prove sticky, that would likely be enough to motivate the Fed to tighten policy,” its analysts warn, highlighting the risk that persistent price pressures in the services sector could still force additional action from the central bank.
Meanwhile, the CME FedWatch tool shows a 64.6% chance that the Fed will raise interest rates in the September policy meeting.
This week, investors will focus on a string of US economic data, notably the Nonfarm Payrolls (NFP) data for July, which will be released on Friday.
