Asian Currencies Steady as Dollar Holds Firm Ahead of Fed Decision and US-Iran Deal Details 
Australia Eases Capital Gains Tax Reforms to Support Small Businesses and Startups 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
Goldman Sachs Sees Fed Holding Interest Rates Steady Until 2027 
RBI Holds Interest Rates at 5.25%, Cuts India Growth Forecast Amid Rising Global Risks 
Canada, British Columbia Launch $5 Billion Infrastructure Partnership to Boost Housing, Transit, and Healthcare 
RBNZ Holds Interest Rates Steady but Signals More Hikes Ahead in 2026 
BOJ Rate Hike Expectations Rise as Weak Yen and Strong U.S. Jobs Data Increase Pressure 
RBI Hits Pause as Geopolitical Storm Clouds Gather 
Gold Prices Slide as Hawkish Fed and Strong Dollar Weigh on Bullion 
Indonesia Passes New Central Bank Law, Raising Investor Concerns Over Policy Independence 
We expect the Swiss franc to be an outperformer among the group of majors, even if the U.S. Federal Reserve moves with a hike in rates. Swiss franc, thanks to the intervention of the Swiss National Bank (SNB) remains quite attractively valued given the inflated asset prices in the financial markets amid a slowdown in the economy.
We have long been forecasting a weakness in the USD but that hasn’t materialized much so far. The interest rate path that supported the rise of the dollar back in 2014 isn’t that steep anymore, instead, the green buck found support as an alternate safe haven, monetary policies from other central banks and regulatory shortages. However, we expect that will slowly be nearing its end over the course of the year and the next unless Fed radically revives the expectation path. Even if they do, we suspect that it would be supportive of the upside in the franc, given the inflated capital market.
Trade idea:
We call for a sell in the dollar against franc (USD/CHF) at 0.972 and at rallies, targeting 0.9 area with the stop loss around parity.
