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Indonesia News Portal for Traders | Financial & Business Updates

24 October 2024 16:52  |

The Swiss Franc traded around 0.86 per USD

The Swiss Franc traded around 0.86 per USD, close to two-month lows, pressured by a stronger dollar ahead of the looming U.S. presidential election and expectations of a more gradual monetary easing cycle by the Fed following a series of stronger-than-expected U.S. economic data.

Meanwhile, the continued deceleration in Swiss inflation reinforced expectations of another rate cut by the Swiss National Bank (SNB) at the upcoming December meeting. Inflation dropped for the third month to 0.8% in September, the lowest in over three years, down from 1.1% in August.

The central bank lowered its key rate for the third consecutive time in September, by 0.25% to 1%, and indicated the possibility of further cuts in the coming months due to a significant decline in inflationary pressures.(Cay)

Source : Trading economi

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