Swiss Franc Steadies After US Dollar Drops on Soft Inflation Data
USD/CHF stabilizes near 0.8090 in Asian trading after a 0.7% slide, as softer US inflation data weighs on the dollar.
The Swiss Franc steadied against the US Dollar on Tuesday, with USD/CHF trading around 0.8090 during Asian hours. The pair had fallen 0.7% in the prior session, pressured by softer-than-expected US inflation data that undermined the greenback.
The inflation release reduced expectations of further Federal Reserve tightening, prompting dollar selling. The franc, a traditional safe-haven, found support amid the shift in sentiment. Traders now await additional US economic data for further directional cues.
No new catalysts emerged from European or Swiss fundamentals, leaving the pair to consolidate near the 0.8090 level.
Source: FXStreet Forex News