Swiss Franc weakens as SNB resists strength, US CPI eyed
The post Swiss Franc weakens as SNB resists strength, US CPI eyed appeared on BitcoinEthereumNews.com. USD/CHF trades around 0.7815 on Tuesday at the time of writing, up 0.46% on the day, supported by renewed demand for the US Dollar (USD) amid fresh geopolitical tensions in the Middle East. Market sentiment deteriorates after comments from United States (US) President Donald Trump stating that the US-Iran ceasefire is on “life support.” According to CNN, several members of his administration are now reportedly considering a resumption of major military operations more seriously. This backdrop revives safe-haven flows and supports the Greenback. The US Dollar Index (DXY), which measures the US Dollar’s performance against a basket of six major currencies, rises toward 98.30, also supported by increasingly hawkish expectations regarding the Federal Reserve’s (Fed) monetary policy. Investors are now awaiting the release of the US Consumer Price Index (CPI) for April. Consensus expects an