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Swiss franc firms slightly vs dollar as oil eases

USD/CHF was around 0.8166 after slipping from 0.8185, while traders assign about an 80.0% chance of a September rate hike despite the Fed set to hold July rates.

Reported · Written up by our desk · Major Pairs

FXStreet reports USD/CHF traded flat on Friday, with the Swiss franc edging slightly higher against the US dollar as a pullback in oil prices weighed on the dollar and US Treasury yields.

The pair was quoted around 0.8166, easing from 0.8185, its highest level since June 2025. The US Dollar Index was around 101.35, down 0.10% on the day.

The move came alongside a still supportive backdrop for the greenback, with the Middle East war and hawkish Federal Reserve expectations providing a floor. Oil prices were slightly lower but remained about 25% higher on the month, with WTI around $87.50 after briefly topping $92.00 on Thursday.

In rates, the CME FedWatch Tool showed traders pricing roughly an 80.0% chance of a rate hike in September, while the Fed is widely expected to keep borrowing costs unchanged at its July 28-29 meeting. On the data front, the preliminary S&P Global Composite PMI rose to 53.6 in July from 51.9 in June, with Services also at 53.6 versus 51.2 and Manufacturing at 53.8 versus 53.9.

Latest closeWTI crude $92.23 ▲6.2%|Dollar index 101.44 ▲0.3%

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