Ella 
USD/CHF ended lower for the third day in a row, trading around 0.8470 during the Asian session on Tuesday. The pair could fall further amid safe-haven flows into the Swiss franc. Risk aversion prevailed as geopolitical tensions intensified in the Middle East.
Hamas has rejected new Israeli conditions in cease-fire talks in Egypt, insisting that Israel abide by conditions set by U.S. President Joe Biden and the U.N. Security Council. However, Air Force Gen. C.Q. Brown, chairman of the U.S. Joint Chiefs of Staff, told Reuters reporters earlier on Tuesday that concerns about an impending broader conflict in the region had diminished. There has been no further escalation in the fighting between Israel and Lebanese Hezbollah.
U.S. Federal Reserve Chairman Jerome Powell said at the Jackson Hole symposium on Friday: “The time has come to adjust policy. According to the CME FedWatch tool, the market fully expects the Fed to meet in September. cut interest rates by at least 25 basis points.
In the second quarter, Swiss non-farm employment increased by 1.3% year-on-year to a record 5.499 million people, after growing by 1.8% in the previous quarter. Employment in the industrial sector rose 0.7% to 1.314 million, with gains in all sectors. Meanwhile, employment in services rose 1.4% to 4.365 million.
The expansion in the labor market is unlikely to affect speculation that the Swiss National Bank (SNB) will cut interest rates further in September. Additionally, traders are expected to focus on the Swiss ZEW survey for August due to be released on Wednesday – expected.
