USD/CHF edges lower on Wednesday as broad weakness in the US Dollar (USD) allows the Swiss Franc (CHF) to regain some ground. At the time of writing, the pair trades around 0.8078, down roughly 0.20% on the day.
The Japanese Yen (JPY) continues to build upward momentum, pushing USD/JPY down to 152.88 before consolidating around 153.26 as markets fully price in a 25 basis point rate hike from the Bank of Japan (BoJ) in September.
Nomura’s Anderson, Buckley and Szczepaniak expect the Swiss National Bank (SNB) to keep its 0.00% policy rate unchanged for the foreseeable future, with inflation below 1% and the neutral rate estimated at around 0%.