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Swiss franc steadies below 0.8100 as US-Iran talks deadlock
USD/CHF is near 0.8100 as traders wait for US CPI on Wednesday, with FX volatility subdued.
The Swiss franc is trading almost flat versus the US dollar on Tuesday, as the USD/CHF pair holds below 0.8100 and consolidates around the middle of last week’s range, according to FXStreet.
The move comes amid deadlocked US-Iran peace negotiations, which have increased uncertainty and helped push oil prices higher, dampening risk appetite, while investors also look ahead to Wednesday’s US Consumer Price Index release.
FXStreet also points to interest-rate expectations shaping the dollar, citing hawkish comments from Federal Reserve officials, including Cleveland Fed President Beth Hammack, who said the central bank might need to hike rates more than once to return inflation to target.
Separately, analysts at OCBC said Wednesday’s CPI would likely need to show a clear upside surprise to shift expectations for a September rate hike, and they noted the SNB appears comfortable with a weaker Swiss franc, suggesting CHF weakness could persist into year-end.