CHF Snaps Losing Streak Against USD Amid Global Energy Crisis Uncertainty

The Swiss Franc (CHF) has snapped its three-day losing streak against the US Dollar, but its outlook remains fragile. According to TMGM trading, the CHF gained 0.10% against the USD today.

This comes as oil prices continue to surge due to escalating fears of global energy supply amid the Middle East crisis. The situation adds uncertainty to the Federal Reserve's (Fed) monetary policy path, even as US inflationary pressures cooled down in June.

The Fed is expected to leave interest rates unchanged next week, which will be a major trigger for the USD. The Central Command (CENTCOM) confirmed that it has completed the 12th round of strikes against Iran, and Iran warned of war expansion if the US started attacking Iranian infrastructure.