The USD/CHF pair weakened for the third consecutive day and traded around 0.7960 in early European trading on Tuesday. The Swiss franc strengthened on increased demand for safe haven assets, following US President Donald Trump's new tariff threats that have shaken global markets.
Trump plans to impose 10% tariffs starting February 1st on several European countries and the UK, with the possibility of increasing the tariffs to 25% if a deal fails. This threat, which also relates to the Greenland issue, triggered a sell-off in US assets. Investors fear that prolonged uncertainty will undermine confidence in the US dollar.
Market participants are now awaiting the release of Swiss producer and import price data, as well as a speech by the Chairman of the Swiss National Bank. If geopolitical tensions continue to escalate, the Swiss franc has the potential to strengthen further as it is considered a safe haven currency amid global turmoil. (Arl) [sma]
Sumber : Newsmaker.id
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