USD/CHF slipped in Asian trading on Tuesday to about 0.8330 after posting modest gains a day earlier, as the US Dollar eased from an 18-month high. The Dollar’s broader gauge, the DXY, retreated to around 102.40 after briefly topping out at 102.61, with markets waiting for Wednesday’s CPI and Thursday’s PPI for guidance on the Federal Reserve’s rate trajectory. CME FedWatch pricing implies roughly an 80% probability of no change at the next meeting, while the odds of a December increase are put at 88%.
Safe-haven demand remains a swing factor, with Middle East tensions in focus after a deadly strike on Riyadh’s King Khalid International Airport and statements on continuing drone and missile attacks from Yemen’s Iran-backed Houthis, followed by warnings over Saudi airspace. The Swiss Franc is also pressured by positioning and policy divergence: the SNB kept its key rate at 0% in September. USD/CHF was described as range-bound between 0.8245 and 0.8365, while technical levels show the pair above the nine-period EMA at 0.8318 and the 50-period EMA at 0.8202; the 14-day RSI stood at 62.3, with support flagged near 0.8333, then 0.8318 and 0.8202.
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