USD/CHF

Societe Generale’s Kit Juckes highlights the Swiss Franc’s role as a funding currency, with gradual depreciation interrupted by sharp rebounds during periods of market stress. With Swiss inflation subdued and fiscal and external balances stable, he sees little pressure on the SNB to raise rates.

The Swiss Franc (CHF) keeps marching higher against the US Dollar (USD), favoured by Switzerland’s solid fiscal stability and the Greenback's weakness, as traders ponder the depth of the Federal Reserve’s (Fed) monetary tightening cycle.

United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann describe USD/CHF price action as directionless intraday, expecting a 0.8225–0.8260 range as momentum remains muted. On a 1–3 week horizon they retain a bearish bias, looking for a move toward 0.8200 while keeping strong resistance at 0.8275. Their earlier 1–3 month view had anticipated a rebound, but not enough momentum to revisit the July peak at 0.8206.

• USD/CHF declined due to weak U.S. macroeconomic data and softening housing indicators. • Markets priced in a Federal Reserve policy pause, reducing U.S. dollar support. • Technical indicators show neutral MACD and RSI with Williams %R suggesting oversold conditions.

USD/CHF loses ground for the third consecutive day, trading around 0.8230 during Asian hours on Thursday.

UOB strategists Quek Ser Leang and Lee Sue Ann observe that USD/CHF fell sharply before rebounding, leaving overall momentum subdued.