The USD/CHF pair trades on a weaker note around 0.9050 during the early European session on Tuesday.
USD/CHF trades softer near 0.9050 in Tuesday’s early European session. Fed’s Kashkari said if inflation continues to stall, no rate cuts would be a possible scenario. The rising Middle East geopolitical tensions might boost safe-haven flows, benefiting the CHF. The downtick of the pair is backed by the weaker US Dollar . Nonetheless, the upbeat US March employment report and the hawkish comments from the Federal Reserve officials might cap the downside of the USD/CHF pair.
The firmer-than-expected reading could lower expectations for Fed rate cuts in June and lift the US Dollar , while softer reading could spur speculation about rate cuts. On the Swiss front, the likelihood of an immediate ceasefire between Israel and Hamas remained gloomy, as the two sides had failed to reach an agreement despite repeated attempts by the US and its allies to help negotiate peace.
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