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USD/CHF remained stable after closing lower in the previous session, holding above 0.8650 during the Asian session on Friday. The level is close to the two-month high of 0.8686 hit on Wednesday.
The strength in USD/CHF may be related to the strong performance of the US dollar (USD), which is driven by the decline in the chances of a significant rate cut by the Federal Reserve. Additionally, uncertainty over the upcoming U.S. presidential election also supported the dollar. The latest Reuters/Ipsos poll finds Vice President Kamala Harris leading by a slim margin of 46% to 43% in the six-day poll that ended on Monday. Former President Donald Trump.
Republican nominee Donald Trump said Thursday that his administration will build an economy that lifts up all communities in America. Meanwhile, Vice President Kamala Harris was honored at a rally in Georgia by rock legend Bruce Springsteen, entertainer Tyler Perry and former Supported by President Barack Obama.
The Swiss franc may face challenges as expectations grow for another interest rate cut by the Swiss National Bank (SNB) at its upcoming December meeting. This may be attributed to recent inflation, which hit a three-year low of 0.8% in September, down from 1.1% the previous month.
Amid uncertainty in the Middle East, safe-haven inflows may curb the Swiss franc’s decline. Traders are focused on Israel’s response to Iran’s October 1 missile attack. Meanwhile, U.S. and Israeli officials are preparing to resume talks in the coming days on a possible ceasefire and the release of Gaza hostages.
U.S. Secretary of State Antony Blinken said on Thursday that the United States does not support Israel’s long-term war in Lebanon, while France advocates an immediate ceasefire and diplomatic efforts.
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