- USD/CHF trades sideways as activity stays muted amid subdued market participation due to the Good Friday holiday.
- The US Dollar holds ground on safe-haven demand following recent Iran threats from President Trump.
- Swiss inflation rose to 0.3% YoY in March, staying near the SNB’s lower target bound, easing pressure for policy changes.
USD/CHF remains steady after registering over 0.5% gains in the previous day, trading around 0.7980 during the Asian hours. The pair moves little as trading activity may remain subdued due to the Good Friday holiday.
The US Dollar (USD) holds firm against is major peers amid rising safe-haven demand following the recent Iran threats from the US President Donald Trump. US President Donald Trump offered no clarity on steps toward reopening the Strait of Hormuz, warning of intensified military action over the next two to three weeks and issuing strong threats against Iran. Iran’s Foreign Minister Abbas Araghchi responded that recent US strikes on civilian infrastructure would not force a retreat, describing them instead as evidence of an opponent in disarray and moral decline.
Chicago Fed President Austan Goolsbee shared his concern on Thursday over rising oil prices, noting they could complicate efforts to curb inflation, particularly if gasoline costs surge and lift inflation expectations.
Meanwhile, the Dallas Fed president supported the Federal Reserve holding rates steady at the latest FOMC meeting, noting the labor market has stabilized since late 2025, though payroll growth remains weak and “uncomfortable.”
Swiss inflation rose to 0.3% year-over-year (YoY) in March from 0.1%, below the 0.5% forecast but the highest in a year, reflecting rising energy costs linked to Middle East tensions. Price growth remains near the lower bound of the Swiss National Bank’s 0–2% target, reducing pressure for policy changes.
