USD/CHF refreshes over-a-decade low near 0.8030 on USD’s continued underperformance

• USD/CHF slides to near 0.8035 as the US Dollar continues to decline after Israel-Iran ceasefire.
• Fed’s Powell stated that the central bank needs time to learn the impact of tariffs on inflation and growth.
• The SNB pushed interest rates to zero in the monetary policy announcement last week.

The USD/CHF pair posts a fresh over-a-decade low near 0.8034 during Asian trading hours on Wednesday. The Swiss Franc pair faces a sharp selling pressure as the US Dollar (USD) continues to underperform its peers after a ceasefire between Israel and Iran.The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, seems vulnerable near the weekly low around 98.00.

US Dollar PRICE Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the New Zealand Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.02%	0.00%	0.07%	0.15%	-0.05%	-0.37%	-0.03%
EUR	0.02%		0.05%	0.10%	0.15%	-0.06%	-0.35%	-0.01%
GBP	-0.00%	-0.05%		0.06%	0.12%	-0.08%	-0.40%	-0.03%
JPY	-0.07%	-0.10%	-0.06%		0.01%	-0.12%	-0.42%	-0.08%
CAD	-0.15%	-0.15%	-0.12%	-0.01%		-0.14%	-0.39%	-0.15%
AUD	0.05%	0.06%	0.08%	0.12%	0.14%		-0.37%	0.05%
NZD	0.37%	0.35%	0.40%	0.42%	0.39%	0.37%		0.37%
CHF	0.03%	0.00%	0.03%	0.08%	0.15%	-0.05%	-0.37%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).The ceasefire agreement between Israel and Iran has diminished the safe-haven demand of the US Dollar. On Monday, the US Dollar gained sharply after the United States (US) joined Israel’s assault on Iran and destroyed three nuclear sites of Tehran.On the monetary policy front, Federal Reserve (Fed) Chair Jerome Powell has reiterated that monetary policy adjustments are not appropriate at the current time as the labor market is still solid and the central bank needs more time to assess the impact of the tariff policy on inflation.Meanwhile, the Swiss Franc (CHF) outperforms its peersm except antipodeans, ahead of the release of ZEW Survey – Expectations for June at 08:00 GMT. In May, the sentiment data improved significantly to -22 from -51.6 in April as the Swiss National Bank (SNB) has been lowering interest rates consistently.In the last week’s monetary policy announcement, the SNB lowered interest rates to 0%, aiming to prompt inflation. SNB Chairman Martin Schlegel left the door opened for negative interest rates. “We [SNB] are now on the verge of negative interest rate territory,” Schlegel said.