Dollar Rises on Hawkish Fed Outlook, Weakening Swiss Franc
The US Dollar gained ground on Wednesday after the Federal Reserve signaled another rate hike before the end of the year, causing the USD/CHF currency pair to appreciate.
The Fed's hawkish policy outlook follows a recent 25 basis point interest rate increase that brought the benchmark target to 3.75%-4.00%.
The CME FedWatch Tool shows an 89.2% probability of a December rate hike, with traders focusing on preliminary US PMI data scheduled for release later in the day.
Meanwhile, Switzerland's current account surplus expanded to CHF 23.7 billion in Q2 2026, but monetary policy expectations remain dovish ahead of the Swiss National Bank's policy rate announcement on Thursday.