CHF Under Pressure as Muted Inflation Weighs on Swiss National Bank

The Swiss Franc (CHF) is under pressure due to muted inflation data in Switzerland, which has kept the Swiss National Bank (SNB) on hold with interest rates at 0.00%.

According to strategists at Brown Brothers Harriman, 'Swiss July CPI stays muted,' with inflation data underscoring a lack of price pressures in the economy.

The SNB's decision not to raise interest rates has weighed on the CHF, making it the worst-performing G10 currency so far this quarter.

In contrast, the US Dollar (USD) is showing signs of stabilization after a recent sell-off triggered by coordinated intervention from Washington and Tokyo to counter excessive weakness in the Japanese Yen (JPY).

Stronger-than-expected US ISM Manufacturing Purchasing Managers Index (PMI) data has lent support to the Greenback.