Dollar Hits Ceiling Against Franc as Market Prices in Rate Hike

The US dollar has continued its rally against the Swiss franc on Friday, but is facing resistance at a key ceiling.

This comes after hotter-than-expected CPI numbers were released, with the core CPI reading coming in at 0.3%, surpassing expectations of 0.2%.

However, the market is now pricing in a potential rate hike from the Federal Reserve next Wednesday, which could be reducing the impact of these numbers on market behavior.

The Swiss National Bank has kept interest rates at zero despite recent GDP and inflation numbers coming in stronger than anticipated.