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Forex

Swiss Economic Data Triggers Profit-Taking in USD/CHF

Guavy AI Editorial Team
Instruments
USD CHF
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The US Dollar versus Swiss Franc (USD/CHF) exchange rate dipped after robust Swiss economic data sparked profit-taking across major franc pairs.

The Swiss National Bank's policy expectations remained unchanged, but the upbeat economic releases had a broader impact on trading flows for USD/CHF.

The August Consumer Price Index and second-quarter Gross Domestic Product exceeded market expectations, prompting profit-taking in both EUR/CHF and USD/CHF pairs.

However, short-term support is holding for USD/CHF as it trades above its 20-day moving average at CHF 0.8078 and its 200-day moving average at CHF 0.7921.

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