Swiss Franc Gains Against USD Ahead of Fed Rate Decision
The Swiss Franc gained against the US Dollar ahead of the Federal Reserve's interest rate decision. The USD/CHF pair pulled back to around 0.8180 in Asian trading, snapping a five-day winning streak.
This comes as the US Dollar softened in the run-up to the Fed announcement, despite hotter US inflation readings last week that reinforced expectations for further monetary tightening.
Futures pricing reflected a 92.4% implied probability of a 25 basis point rate hike to 3.75%-4.00%, according to the CME FedWatch tool.