USD Firms Against CHF Despite Strong Swiss Retail Data

The US Dollar (USD) has strengthened against the Swiss Franc (CHF) to around 0.8100 during Asian hours on Tuesday, despite robust retail data from Switzerland.

Swiss Real Retail Sales for July rose by 2.3% year-over-year, surpassing the forecasted 1.3% increase and exceeding June's revised 1.9% growth.

The stronger-than-expected data has failed to spark a significant reaction in the USD/CHF pair, which continues to trade near 0.8100.

Market participants are now pricing in a first Swiss National Bank (SNB) rate hike in June 2027, while expectations for a Federal Reserve rate increase in September have shifted sharply higher.