USD Strength Sends USD/CHF to 16-Month High Amid Fed Hike Expectations
The US Dollar has continued its upward momentum against the Swiss Franc, pushing the USD/CHF pair to within striking distance of a 16-month high of 0.8358.
The CME FedWatch Tool indicates that traders are pricing in about a 68% probability of an October Federal Reserve rate hike and a 95% chance of a 25-basis-point increase in December.
Meanwhile, Switzerland's KOF Leading Indicator has climbed to 109.1 in September, its strongest reading in six years and well above expectations.