Swiss Franc weakens as US Dollar gain support on hawkish Fed outlook
USD/CHF gains ground after two days of losses, trading around 0.8230 during the Asian hours on Monday. The pair appreciates as the US Dollar (USD) gains support amid hawkish sentiment surrounding the Federal Reserve (Fed) policy outlook. Last week, the US Federal Reserve delivered a 25-basis-point rate hike, its first hike in three years, as officials sought to curb inflation and flagged more hikes in the coming months. Markets are now pricing in nearly a 56.5% chance of another US rate hike when the Fed meets next in October, compared with nearly 42.5% a week ago, according to the CME FedWatch tool. Fed Chair Kevin Warsh said that “the plain fact is that inflation is too high and has been for too long.” “This summers inflation readings do not tell me that underlying trends have meaningfully improved,” he added. The USD/CHF pair gains support as the Swiss Franc (CHF) has weakened due to a widening interest rate differential with the United States and intense selling pressure driven by new carry trades. Discover more Daily crypto news Crypto tax software Blockchain consulting services This shift is largely attributed to the Federal Reserve delivering its first-rate hike in three years, which significantly boosted demand for the greenback. At the









