USD Rebounds Against CHF Amid Oil Price Surge

The US Dollar (USD) has rebounded against the Swiss Franc (CHF), pushing the USD/CHF pair up to near 0.8116 in early European trading on Tuesday.

This move comes as oil prices surge, with WTI Oil hitting a fresh two-week high at $84.50 due to US President Donald Trump's confirmation that there will be no renewal of the US-Iran ceasefire.

Markets had been expecting a more dovish Federal Reserve (Fed) after soft US economic data for July led traders to pare back expectations for a September rate hike, but analysts at HSBC Asset Management note that market pricing has fallen to its lowest level since mid-June.

The upcoming release of the FOMC minutes from the July policy meeting on Wednesday will be closely watched by investors, who are also paying attention to geopolitical headlines and technical analysis for guidance on USD/CHF direction.