Investors pause ahead of a potential US-Iran agreement, keeping the Swiss Franc steady against the Dollar in early trading.
The USD/CHF pair remains flat at 0.7870 in Asian trading on Friday as traders await confirmation of a US-Iran peace deal. Reports indicate both nations have finalized a draft, though Iran seeks concessions on uranium enrichment and Strait of Hormuz authority.
The US Dollar Index (DXY) edges up to 99.27, supported by risk-on sentiment after Iran’s ILNA news agency suggested a deal could be announced within hours. Economic data showed US S&P Global Composite PMI holding at 51.7 in May, with manufacturing growth offsetting softer services activity.
Swiss markets watch for signals on the Swiss National Bank’s policy stance amid rising inflation pressures driven by higher oil prices.