Swiss Franc Ticks Up Against US Dollar Despite Bright Economic Expectations

The Swiss Franc (CHF) showed some resilience against the US Dollar (USD) after an upbeat reading on Swiss ZEW economic expectations. The USD/CHF pair appreciated about 0.2% on Wednesday, but trimmed some gains to levels below 0.8930 from session highs near 0.8940.

Data released by the German ZEW research centre showed that the Swiss Economic Expectations Index improved for the second consecutive month in August to a 12.1 reading, its best performance since November last year.

The main focus on Wednesday was the release of the US Personal Consumption Expenditures (PCE) Price Index, which is expected to highlight stubbornly high price pressures and keep pressure on the central bank to hike interest rates in the coming months.