Dollar Weakness Pushes USD/CHF Lower Amid Hawkish Fed Comments
The US Dollar (USD) weakened on Monday, causing USD/CHF to trade near 0.8090 and erase its minor gains from the previous session.
This move comes after Federal Reserve Chair Kevin Warsh's hawkish comments at Jackson Hole, which increased market-implied odds of a rate hike in September to 57.5% from 35%, according to CME FedWatch data.
The Swiss National Bank (SNB) kept its policy rate at 0% and reiterated its readiness to intervene in the foreign exchange market to curb excessive appreciation of the Swiss Franc, which is expected to remain on hold until at least early 2027.