The USD/CHF pair edges higher to near 0.7980 during Asian trading hours on Friday. The Swiss Franc pair trades broadly stable in a risk-averse market mood, followed by fears of an increase in United States (US) 10% tariff blanket.
On Thursday, US President Trump said in a telephonic interview with NBC news that he will impose a "15% or 20%" tariff blanked on nations that have failed to secure a trade deal during the 90-day reciprocal tariff pause period. "We're just going to say all of the remaining countries are going to pay, whether it's 20% or 15%. We'll work that out now," Trump said.
This scenario is unfavorble for assets from a lot of countries as Washington has so far closed deal with the United Kingdom (UK) and Vietnam, a limited pact with China and has expressed confidence towards a US-India interim deal.
Meanwhile, dismal market sentiment has improved demand for safe-haven assets, such as Swiss Franc.
Additionally, US President Trump has also sent letter to Canada, specifying a 35% tariff rate, which will be separate from other sectoral levies. He has also threatened to impose tariffs on imports from the Eurozone. However, the 27 nations-led-bloc has stated that it is aiming to reach a deal with Washington before the August 1 deadline.
At the time of writing, the US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, trades higher to near 97.90, the highest level seen in two weeks.
Source: FXStreet
USD/CHF continues to trudge its way through familiar technical territory, with price action holding stubbornly just south of the 0.8000 major handle. The Swiss National Bank (SNB) continues to fight b...
The USD/CHF pair demonstrates strength near its over two-week high around 0.8000 during Friday's late Asian session, posted on Thursday. The Swiss Franc pair gained sharply on Thursday as the US Dolla...
The US Dollar rally against the Swiss franc was capped at 0.7970 on Monday, and the pair retreated to levels right below 0.7945 as market sentiment deteriorated during the European Session, with all e...
The Swiss Franc (CHF) strengthens modestly against the US Dollar (USD) on Wednesday, with USD/CHF trimming intraday gains as the Greenback softens after softer-than-expected US Producer Price Index (P...
The US dollar traded lower against the Swiss franc for the second consecutive day on Monday (September 8). A weak payrolls report released on Friday continued to weigh on the US dollar, as investors i...
The British pound fell to around $1.34, its lowest in a week, after data showed the UK government borrowed £7.2 billion more than forecast in the first half of the fiscal year, underscoring the tough fiscal challenge facing Chancellor Rachel Reeves...
European stock markets appeared calm on Tuesday, following a strong rally in the previous session. Major indices such as the STOXX 50 and STOXX 600 moved flat as investors chose to wait for new direction while assessing news from various major...
The Nikkei 225 stock index closed slightly lower on Tuesday after quite volatile trading. Although it briefly surged to near a psychologically important level early in the session, the gains were short-lived. Sanae Takaichi's victory as Japan's new...
U.S. Treasury Secretary Scott Bessent said on Friday he expects to meet next week with Chinese Vice Premier He Lifeng in Malaysia to try to...
The 20-day US federal government shutdown is likely to end this week, White House economic adviser Kevin Hassett said on Monday.
"I think the...
Asia-Pacific stock markets opened higher on Monday (October 20th), as investors awaited the release of key economic data from China. Analysts expect...
The Federal Reserve will go into a policy meeting next week with its view of the economy obscured by a U.S. government shutdown that has suspended...