- USD/CHF advances to near 0.8000 as the US Dollar trades firmly against its peers.
- Washington has reduced tariffs on imports from the EU to 15%.
- The Fed is scheduled to announce the monetary policy on Wednesday.
The USD/CHF pair attracts significant bids and jumps to near the psychological level of 0.8000 on Monday. The Swiss Franc pair trades firmly as the US Dollar (USD) outperforms its peers, following the announcement of a trade framework between the United States (US) and the European Union (EU).
At the time of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.5% higher to near 98.15. This is the highest level seen in a week.
US Dollar PRICE Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Euro.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.84% | 0.13% | 0.45% | 0.15% | 0.72% | 0.65% | 0.52% | |
| EUR | -0.84% | -0.76% | -0.36% | -0.71% | -0.13% | -0.22% | -0.35% | |
| GBP | -0.13% | 0.76% | 0.20% | 0.05% | 0.63% | 0.55% | 0.41% | |
| JPY | -0.45% | 0.36% | -0.20% | -0.27% | 0.24% | 0.19% | 0.22% | |
| CAD | -0.15% | 0.71% | -0.05% | 0.27% | 0.54% | 0.49% | 0.36% | |
| AUD | -0.72% | 0.13% | -0.63% | -0.24% | -0.54% | -0.09% | -0.21% | |
| NZD | -0.65% | 0.22% | -0.55% | -0.19% | -0.49% | 0.09% | -0.13% | |
| CHF | -0.52% | 0.35% | -0.41% | -0.22% | -0.36% | 0.21% | 0.13% |
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 US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
Over the weekend, US President Donald Trump confirmed that Washington and Brussels have reached a trade agreement. According to the deal, the US will charge 15% tariffs on imports from the US, which is half of what Trump had threatened in the mid of the month.
Meanwhile, investors shift their focus to the Federal Reserve’s (Fed) monetary policy announcement on Wednesday. The Fed is expected to hold interest rates steady in the range of 4.25%-4.50%. Investors will closely monitor Fed Chair Jerome Powell’s speech for fresh cues on the monetary policy for the remainder of the year.
On Friday, US President Trump expressed confidence that Jerome Powell could lower interest rates soon. “We had a very good meeting, I think we had a very good meeting on interest rates,” Trump told reporters on Friday, Reuters reported.
Meanwhile, the Swiss Franc (CHF) weakens as the US-EU trade deal has diminished demand for second-tier safe-haven assets. On the domestic front, the Swiss currency will be influenced by ZEW Survey – Expectations, which will be published on Wednesday.
