Swiss Franc Weakens Amid Hawkish Bets on Federal Reserve

The Swiss Franc (CHF) has weakened against its major currency peers at the start of the week, with the USD/CHF pair rising 0.15% to near 0.8082.

This comes as a market-sentiment revival following the announcement of a ceasefire in the Middle East has diminished the appeal of safe-haven assets like the Swiss Franc.

Investors are awaiting the release of US Nonfarm Payrolls (NFP) data for July, which will provide cues on the Federal Reserve's (Fed) monetary policy outlook.

The Fed is expected to raise interest rates in the near term, with a 64.6% chance indicated by the CME FedWatch tool that the Fed will hike rates at its September policy meeting.