USD/CHF rebounds from 0.9200 as safe-haven appeal of Swiss Franc dents, USD Index tumbles – by Sagar_Dua24 USDCHF Fed SNB Inflation DollarIndex
. The demise of Credit Suisse has dented the reputation of the Swiss Franc as a safe-haven.
The Swiss Franc used to be the first choice of investors if the US Dollar went through turbulent times. US banking shakedown resulted in a sheer demand for the Japanese Yen and thewhile Swiss Franc weakened further against the mighty US Dollar after the Credit Suisse collapse. Money managers ditched the Swiss franc at the fastest rate in two years last week in the run-up to the dramatic takeover of Credit Suisse by UBS, as reported by Reuters.
Meanwhile, correction in the USD Index has extended to near 102.40 as the Federal Reserve is expected to take the route of steady monetary policy in times when the US banking system is going through major headwinds. While stubborn inflation would be handled by tight credit conditions from US banks. Disbursement of advances to households and businesses will go through more filters as banks are required to remain precautions in times of higher interest obligations.
Going forward, the release of the Quarterly Bulletin by the Swiss National Bank will be keenly watched. The Quarterly Bulletin will be filled with monetary policy report and business cycle trends in the Swiss region. Inflationary pressures in the Swiss region are beyond the control of the SNB. And, SNB Chairman
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