Ella 
During early Asian trading on Tuesday, USD/CHF was consolidating in a narrow range around 0.8800. The Institute for Supply Management (ISM) will release its U.S. Services Purchasing Managers Index (PMI) report later that day, which is expected to fall to 53.0 in February from 53.4 in January. As of press time, USD/CHF was trading at 0.8855, with an intraday increase of 0.08%.
Atlanta Fed President Raphael Bostic said there is no urgent pressure for the U.S. central bank to cut interest rates given the strong economy and job market. Bostic further said it might be appropriate for the Fed to approve two quarter-point interest rate cuts before the end of the year. Financial markets also believe that the Federal Reserve will lower its benchmark interest rate this year. Investors are pricing in a 99.5% chance that the Fed will cut interest rates at least once before December, according to CME Group’s FedWatch tool.
On Monday, Switzerland’s consumer price index (CPI) fell to 1.2% in February from 1.3% in January, better than market expectations of 1.1%. This figure is the lowest inflation rate since October 2021.
