USD/CHF remains below 0.8650, market caution emerges ahead of US presidential election

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Majors,Macroeconomics,Switzerland

USD/CHF holds ground after registering losses in the previous session, trading around 0.8640 during the Asian hours on Tuesday.

USD/CHF remains steady due to market caution amid increased uncertainty surrounding the US election results. Improved US Treasury yields could have provided support for the US Dollar. The continued slowdown in Swiss inflation has increased the likelihood of a bumper SNB rate cut in December. The US Dollar remains steady as traders adopt market caution amid increased uncertainty surrounding the US presidential election.

Even though the peg isn’t in force anymore, CHF fortunes tend to be highly correlated with the Euro ones due to the high dependency of the Swiss economy on the neighboring Eurozone. Why is the Swiss Franc considered a safe-haven currency? The Swiss Franc is considered a safe-haven asset, or a currency that investors tend to buy in times of market stress.

 

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