The USD/CHF pair hit a fresh more than a decade low near 0.8034 during the Asian trading hours on Wednesday (6/25). The Swiss Franc pair faced sharp selling pressure as the US Dollar (USD) continued to underperform against its peers following the ceasefire between Israel and Iran.
The US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, appears vulnerable near weekly lows around 98.00.
The ceasefire agreement between Israel and Iran has reduced the demand for the US Dollar as a safe-haven asset. On Monday, the US Dollar strengthened sharply after the United States (US) joined Israel's attack on Iran and destroyed three of Tehran's nuclear sites.
On monetary policy, Federal Reserve (Fed) Chairman Jerome Powell has reiterated that adjusting monetary policy is not appropriate at this time as the labor market remains solid and the central bank needs more time to assess the impact of tariff policy on inflation. (alg)
Source: FXstreet
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