Bloomberg – The Swiss franc’s value rose, reaching 0.87 against the US dollar (USDCHF). This increase brings it close to the high levels last seen in late July. The strengthening of the franc is partly due to the US dollar’s general weakness.
This trend follows the Federal Reserve’s shift to a more cautious approach, hinting at a greater reduction in interest rates next year than first expected. At the same time, the Swiss National Bank decided not to change interest rates in December, matching predictions. This marks their second steady rate in the month. This decision suggests their tightening phase might be over. The Bank also mentioned that the current monetary conditions seem suitable.