The pair climbs for a second day amid Fed hawkishness and stalled US-Iran talks, ahead of Swiss retail sales and PMI data.
USD/CHF extended gains to 0.8090 in Asian trading, marking a second consecutive day of appreciation. The move is driven by safe-haven demand for the US Dollar as geopolitical tensions escalate, with US-Iran peace talks in Doha facing uncertainty after Tehran ruled out direct meetings with US envoys.
The Federal Reserve’s hawkish shift also bolstered the Greenback, as the central bank removed language hinting at future rate cuts during its June meeting. Markets now price a 63% chance of a September rate hike, per CME FedWatch data. Swiss economic indicators, including Real Retail Sales and SVME PMI, are due later Wednesday.
Traders are also awaiting Federal Reserve Chair Jerome Powell’s appearance at the ECB Forum in Sintra, alongside key US employment data.