Forex
Swiss Franc Strengthens as US Dollar Weakness Continues
The US Dollar weakened broadly on Thursday, causing the USD/CHF pair to fall. This decline was due in part to a sharp rally in the Japanese Yen, which weighed on the Greenback's value.
The Swiss Franc drew support from stronger-than-expected inflation data, with headline CPI rising 0.8% year-over-year in August, above consensus estimates and the SNB's Q3 forecast of 0.6% y/y.
Brown Brothers Harriman's Elias Haddad noted that despite this supportive data surprise, 'CHF is the worst-performing G10 currency so far this quarter,' due to the prevailing rate backdrop.