Swiss Franc Faces a Remarkable Decline

London: 27 September 2023 (TraderMade): The US consumer confidence index declined to a 4-month low, causing the US Dollar to rally. The Dollar is higher on safe-haven pairs. This rally caused a remarkable shift in the USDCHF currency pair.

The USDCHF was at 0.88 on 30 August, yet it reached 0.92 on 27 September 2023. According to financial analysts and experts, the Fed might not be done with rising interest rates. Inflation is still bothering the US economic scenario. The increasing real estate prices, oil prices, and the US Dollar affect the USDCHF pair.

The Swiss Franc has been losing for the last 11 days consecutively. This has been the longest losing streak since 1975. The Swiss National Bank decided to halt monetary tightening last week. This decision led to borrowing CHF to invest in higher-yielding currencies.

Get USDCHF live rates from TraderMade to stay updated with the movements and make informed decisions.