The USD/CHF pair fell to 0.9145 due to a weaker US Dollar on Thursday. The US Fed’s hawkish stance has boosted the USD recently, supporting the pair. Switzerland’s ZEW Survey Expectations rose to 17.6 in April, up from 11.5 previously.
Traders are cautious ahead of the release of the US preliminary GDP Annualized for Q1 later in the day. Tensions in the Middle East could drive investors towards safe-haven assets like the Swiss Franc.
The Fed has maintained its stance on monetary policy, providing some backing to the Greenback. However, uncertainty remains about when rate cuts might be implemented. The US GDP growth figure for Q1 will give insight into the economy’s performance.
Initial estimates suggest a 2.5% growth rate for the first quarter, lower than the previous 3.4% reading. Stronger-than-expected data could delay rate cuts, boosting the USD.
Switzerland’s ZEW Survey Expectations improved to 17.6 in April, indicating positive sentiment. Geopolitical tensions in the Middle East may drive investors towards the CHF, a traditional safe-haven currency, pushing the USD/CHF lower.