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- USD/CHF declines to near 0.7800 due to continued underperformance from the US Dollar.
- The US Dollar has been battered by the US-Iran permanent ceasefire optimism.
- US President Trump expresses confidence in some positive announcements relating to Iran soon.
The USD/CHF pair trades 0.2% lower to near 0.7800 during the Asian trading session on Thursday. The Swiss Franc pair faces selling pressure as the US Dollar (USD) continues to underperform amid increasing hopes that the United States (US) and Iran would reach a permanent ceasefire soon.
During the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.15% lower to near 97.85, the lowest level seen in over six weeks.
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.13% | -0.17% | -0.27% | -0.17% | -0.29% | -0.06% | -0.19% | |
| EUR | 0.13% | -0.04% | -0.13% | -0.04% | -0.15% | 0.04% | -0.06% | |
| GBP | 0.17% | 0.04% | -0.09% | -0.02% | -0.13% | 0.08% | -0.03% | |
| JPY | 0.27% | 0.13% | 0.09% | 0.08% | -0.01% | 0.14% | 0.07% | |
| CAD | 0.17% | 0.04% | 0.02% | -0.08% | -0.11% | 0.10% | -0.01% | |
| AUD | 0.29% | 0.15% | 0.13% | 0.01% | 0.11% | 0.19% | 0.12% | |
| NZD | 0.06% | -0.04% | -0.08% | -0.14% | -0.10% | -0.19% | -0.10% | |
| CHF | 0.19% | 0.06% | 0.03% | -0.07% | 0.01% | -0.12% | 0.10% |
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 optimism over a US-Iran permanent truce has diminished the safe-haven demand for the US Dollar. Also, traders have priced out the possibility of interest rate hikes by the Federal Reserve (Fed) this year on expectations that oil prices will fall if the US and Iran reach a deal. Higher oil prices forced traders to raise hawkish Fed bets for the year in March. There was anticipation of at least one interest rate hike this year.
The US-Iran optimism has been prompted by comments from US President Donald Trump that there could be a positive announcement over Middle East conflicts, which came on early Wednesday. “I think you’re going to be watching an amazing two days ahead. I really do,” Trump said in an interview with ABC News.
In Switzerland, investors await the Producer and Import Prices data of March, which will be published at 06:30 GMT. The data is estimated to have grown 0.2% after declining 0.3% in February.
