USD/CHF Hits One-Year High Amid Hawkish Fed Expectations and Geopolitical Tensions

The USD/CHF currency pair has reached its highest level in over a year, trading at around 0.8204 on Wednesday.

This upward momentum is driven by expectations of a hawkish stance from the Federal Reserve ahead of its policy decision, which is expected to be announced at 18:00 GMT.

Market participants are closely watching the Fed's interest rate announcement, with some assigning a 30% probability to a surprise 25-basis-point hike due to rising energy prices and inflation risks.

The US Dollar has remained firm throughout the session, with the DXY hovering near 101.45 after recovering from an intraday low of 101.24.