USD/CHF remains subdued for the second successive session, trading around 0.7970 during the Asian hours on Monday. The pair struggled as the Swiss Franc (CHF) receives support from increased safe-haven demand amid ongoing global trade uncertainties, driven uncertain tariff concerns. Swiss Producer and Import Prices data for June will be eyed later in the day.
Additionally, the CHF draws support from wavering expectations of further Swiss National Bank (SNB) policy easing amid a renewed inflation risk. The SNB officials are expected to keep the interest rate steady at 0% in September, with many analysts forecasting that it will likely remain at that level through 2026.
Additionally, the USD/CHF pair faces challenges as the US Dollar (USD) declines amid escalating global trade tensions. US President Donald Trump announced, on Saturday, a 30% tariff on imports from the European Union (EU) and Mexico starting August 1. Trump also proposed a blanket tariff rate of 15%-20% on other trading partners, an increase from the current 10% baseline rate.
Source: FXStreet
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