Forex
US Dollar Falters as Rate Hike Expectations Wane
The US Dollar (USD) has weakened against the Swiss Franc (CHF), with the pair trading around 0.8120 on Wednesday morning in Asia.
This decline comes as expectations of a US interest rate hike next month have eased, following recent economic data showing a drop in US Retail Sales and unexpected job losses last month.
The Federal Reserve's (Fed) decision to leave interest rates unchanged at its last meeting has also contributed to the shift in expectations, with three officials dissenting in favor of a rate hike.
According to the CME FedWatch tool, traders now price in just a 35% chance of a rate hike at the Fed's September meeting, down from 47% a month earlier.