USD/CHF holds steady amid softer US Dollar and trade optimism

By: bitcoin ethereum news|2025/05/15 03:30:09
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USD/CHF holds above key support at 0.8320, buoyed by 21-day EMA amid recent US Dollar softness. Swiss Franc gains on optimism over fast-tracked US-Switzerland trade deal following Geneva talks. SNB’s dovish stance limits CHF upside as markets await key US data releases on Thursday. The USD/CHF pair holds firm above 0.8320 on Wednesday during early American trading hours after declining for the second straight day. The pair drew technical support from the 21-day Exponential Moving Average (EMA) at 0.8332, which coincides with a multi-week resistance-turned-support zone near 0.8320. The Swiss franc (CHF) has rebounded from an over one-month low reached on Monday, benefiting from broad US Dollar (USD) weakness following Tuesday’s softer-than-expected US Consumer Price Index (CPI) data. The inflation miss eased fears over renewed price pressures from Trump-era tariffs and prompted renewed Federal Reserve (Fed) rate cut bets, putting pressure on the Greenback. Meanwhile, the Swiss Franc gained ground on renewed optimism over a potential US-Switzerland trade agreement. US Treasury Secretary Scott Bessent said that Switzerland and United Kingdom (UK) were “at the front of the queue” for bilateral trade deals, contrasting the slower pace of talks with the European Union. London has already reached an agreement, and Swiss President Karin Keller-Sutter quickly emphasized that Switzerland should be “among the next,” potentially even second in line. While Keller-Sutter, who also serves as Switzerland’s Finance Minister, initially stated that a formal declaration of intent would be submitted to Washington within one to two weeks, Bessent expressed a desire to move even faster, expecting the proposal by this coming Sunday. Despite the positive trade momentum, further gains in the Swiss Franc are being capped by rising expectations of additional monetary easing by the Swiss National Bank (SNB). SNB Chairman Martin Schlegel recently said the central bank is ready to cut interest rates even below zero if inflation stays persistently below target. Market participants now focus on Thursday’s high-impact US data, including Initial Jobless claims, Retail sales, and Producer Price Index (PPI), which could determine the near-term direction for the USD/CHF pair. Swiss Franc PRICE Today The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today. Swiss Franc was the strongest against the Australian Dollar. 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). Source: https://www.fxstreet.com/news/usd-chf-holds-steady-amid-softer-us-dollar-and-trade-optimism-202505141453

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