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- USD/CHF struggles near its three-week low of 0.7880 amid a weakened US Dollar.
- The US Dollar faces pressure as Trump is expected to announce the Fed’s next Chairman soon.
- SNB’s Schlegel said that negative inflation prints are possible this year.
The USD/CHF pair trades with caution during the late Asian trading session on Friday, near its over three-week low of 0.7880 posted on Tuesday. The Swiss Franc pair remains on the back foot as the US Dollar (USD) falls into a frying pan after coming out from fire.
During the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades close to its two-week low of 98.26.
US Dollar Price Last 7 Days
The table below shows the percentage change of US Dollar (USD) against listed major currencies last 7 days. US Dollar was the weakest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -1.27% | -0.92% | -0.08% | -0.81% | -2.19% | -2.94% | -1.69% | |
| EUR | 1.27% | 0.36% | 1.19% | 0.46% | -0.94% | -1.68% | -0.43% | |
| GBP | 0.92% | -0.36% | 0.86% | 0.11% | -1.29% | -2.04% | -0.78% | |
| JPY | 0.08% | -1.19% | -0.86% | -0.72% | -2.11% | -2.86% | -1.61% | |
| CAD | 0.81% | -0.46% | -0.11% | 0.72% | -1.40% | -2.15% | -0.90% | |
| AUD | 2.19% | 0.94% | 1.29% | 2.11% | 1.40% | -0.75% | 0.51% | |
| NZD | 2.94% | 1.68% | 2.04% | 2.86% | 2.15% | 0.75% | 1.29% | |
| CHF | 1.69% | 0.43% | 0.78% | 1.61% | 0.90% | -0.51% | -1.29% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
The US Dollar regained ground after disputes over Greenland’s entitlement between the United States (US) and the European Union (EU) were settled, following the meeting between President Donald Trump and NATO Secretary General, Mark Rutte, in which they reached a framework for Greenland’s future deal.
US President Trump also rolled back 10% tariffs imposed on several EU members and ruled out the possibility of acquiring Greenland by force.
Meanwhile, fears among market participants that decisions by the new Federal Reserve (fed) Chairman will favor Trump’s economic agenda that central bank’s dual mandate have pushed the US Dollar on the back foot again. Trump announced on Thursday that he will soon announce Fed Chair Jerome Powell’s successor.
In Switzerland, Swiss National Bank (SNB) Chairman Martin Schlegel has stated that there could be some negative inflation prints this year while speaking at the sidelines of the World Economic Forum (WEF) at Davos on Wednesday. However, Schlegel pushed back hopes of negative interest rates, citing that the bar for an ultra-dovish monetary policy stance is still very high.
