Forex
Swiss Franc Hits 16-Month Lows as US Dollar Strengthens
The Swiss Franc (CHF) has continued its decline against the US Dollar (USD), reaching fresh 16-month highs near 0.8340 on Tuesday, despite a strong report from the KOF Economic Barometer.
The KOF leading Index hit six-year highs at 109.1 in September, beating expectations of a decline to 105.8 and an upwardly revised reading of 107.5 in August.
The US Dollar remains strong, fueled by high Treasury yields and growing hopes that the Federal Reserve (Fed) will hike interest rates before year-end, with Fed Governor Lisa Cook affirming her expectation of continued inflation pressure.