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USD/CHF stays near 16-month highs as Fed hike odds rise
CME FedWatch shows traders pricing nearly a 68% chance of an October rate hike and a 95% probability of a 25 basis point move in December.
USD/CHF held near its 16-month high of 0.8358 during Asian hours on Wednesday, extending a winning streak for a sixth straight trading day, according to FXStreet.
The outlet links the move to stronger US Dollar momentum driven by rising market expectations for additional Federal Reserve interest rate hikes, with CME FedWatch Tool data pointing to nearly a 68% probability of a rate hike in October and a 95% likelihood of a 25-basis-point increase in December.
FXStreet also said attention is shifting to Friday's US Nonfarm Payrolls report, where economists expect 90,000 job additions in September and an unchanged unemployment rate at 4.1%.
On the Swiss side, the Swiss KOF Leading Indicator rose to 109.1 in September, its highest level in six years, beating expectations for a decline to 105.8 after an upwardly revised August reading of 107.5.