USD/CHF readings differed on Friday, Oct. 23, with FXStreet reporting a modest dollar recovery near 0.8210 while other references showed different levels, leaving the session’s direction uncertain.
At 12:04 a.m. ET (04:04 UTC), FXStreet placed the pair near 0.8210 during Asian trading and said it had risen slightly as the dollar regained some ground after three sessions of declines.
Standard Chartered’s Oct. 23 note put USD/CHF at 0.8205, down 0.5%, but gave no quote time. ExchangeRateTool’s Oct. 23 daily-history row showed 0.82339 and describes its rates as central-bank references rather than live prices. The differing values and time windows do not provide a synchronized market price.
The Swiss National Bank (SNB), in its account of developments since June, put the franc’s trade-weighted value about 3% lower and pointed to a widening interest-rate gap between Switzerland and other countries. The Governing Board said calmer exchange-rate conditions had increased the franc’s appeal as a source of funding for carry trades. It also recorded limited demand for the currency as a safe haven. The account covers the period since June and does not explain Friday’s intraday move.
The SNB kept its policy rate at 0% on Sept. 24, after an assessment on Sept. 22-23. It reported inflation at 0.8% in August, up from 0.6% in May, mainly because of higher oil-product prices. The central bank said it was willing to be active in the foreign-exchange market as needed.
The Federal Reserve’s next policy meeting is Tuesday and Wednesday, Oct. 27-28. September minutes said most participants thought another rate increase would likely be appropriate by year-end, depending on incoming information.
