Swiss Franc Drops Against Dollar as Inflation Stays Hot

The Swiss franc has weakened against the US dollar after the latest Personal Consumption Expenditures (PCE) price index came in above analyst forecasts.

The core PCE price index rose 0.4% month-over-month in January, surpassing the 0.3% consensus estimate, and accelerated to 2.8% on an annual basis, up from 2.6% in December and above the 2.7% that economists had projected.

The hotter-than-expected reading signals that inflation pressures remain sticky, complicating the Federal Reserve's path toward rate cuts.