{"id":35786,"date":"2026-02-27T03:51:07","date_gmt":"2026-02-27T03:51:07","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/35786\/"},"modified":"2026-02-27T03:51:07","modified_gmt":"2026-02-27T03:51:07","slug":"%e3%82%88%e3%82%8a%e5%a0%85%e8%aa%bf%e3%81%aa%e7%b1%b3%e3%83%89%e3%83%ab%e3%82%92%e5%8f%97%e3%81%91%e3%81%a6%e3%80%81usd-chf%e3%81%af0-7719%e3%81%8b%e3%82%89%e5%8f%8d%e7%99%ba%e3%81%97%e3%80%81frb","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/jp-asia\/live-updates\/35786\/","title":{"rendered":"\u3088\u308a\u5805\u8abf\u306a\u7c73\u30c9\u30eb\u3092\u53d7\u3051\u3066\u3001USD\/CHF\u306f0.7719\u304b\u3089\u53cd\u767a\u3057\u3001FRB\u306e\u65b9\u91dd\u8ee2\u63db\u3092\u80cc\u666f\u306b0.7746\u307e\u3067\u4e0a\u6607\u3057\u307e\u3057\u305f\u3002"},"content":{"rendered":"USD\/CHF\u306f\u6c34\u66dc\u65e5\u306b\u7c73\u30c9\u30eb\u304c\u5805\u8abf\u3068\u306a\u3063\u305f\u3053\u3068\u3067\u4e0a\u6607\u3057\u3001\u30b9\u30a4\u30b9\u30d5\u30e9\u30f3\u306b\u306f\u4e0b\u62bc\u3057\u5727\u529b\u304c\u304b\u304b\u3063\u3066\u3044\u307e\u3057\u305f\u3002\u540c\u30da\u30a2\u306f\u65e5\u4e2d\u5b89\u5024\u306e0.7719\u304b\u3089\u4e0a\u6607\u3057\u305f\u5f8c\u30010.7746\u8fd1\u8fba\u3067\u53d6\u5f15\u3055\u308c\u3066\u3044\u307e\u3057\u305f\u3002\n\n\u30c8\u30ec\u30fc\u30c0\u30fc\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u61f8\u5ff5\u304c\u7d9a\u3044\u3066\u3044\u305f\u3053\u3068\u304b\u3089\u3001FRB\u306b\u3088\u308b\u8fd1\u3044\u5c06\u6765\u306e\u5229\u4e0b\u3052\u671f\u5f85\u3092\u5f8c\u9000\u3055\u305b\u3066\u3044\u307e\u3057\u305f\u3002\u30b7\u30ab\u30b4\u9023\u9280\u306e\u30aa\u30fc\u30b9\u30bf\u30f3\u30fb\u30b0\u30fc\u30eb\u30ba\u30d3\u30fc\u7dcf\u88c1\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u304c2%\u76ee\u6a19\u3078\u56de\u5e30\u3057\u3066\u3044\u308b\u3068\u3044\u3046\u660e\u78ba\u306a\u8a3c\u62e0\u304c\u306a\u3044\u6bb5\u968e\u3067\u65e9\u671f\u306b\u5229\u4e0b\u3052\u3092\u884c\u3046\u3053\u3068\u306b\u306f\u614e\u91cd\u3067\u3042\u308b\u3068\u8ff0\u3079\u3066\u3044\u307e\u3057\u305f\u3002\n\n

Fed Policy Expectations<\/h3>\n\u5e02\u5834\u306fFRB\u304c3\u6708\u30684\u6708\u306e\u4f1a\u5408\u3067\u91d1\u5229\u3092\u636e\u3048\u7f6e\u304f\u3068\u898b\u8fbc\u3093\u3067\u3044\u307e\u3057\u305f\u3002\u4e00\u65b9\u3067\u5e74\u672b\u307e\u3067\u306b\u304a\u3088\u305d50bp\u306e\u5229\u4e0b\u3052\u304c\u7e54\u308a\u8fbc\u307e\u308c\u3066\u3044\u307e\u3057\u305f\u3002CME FedWatch\u3067\u306f\u30016\u6708\u5229\u4e0b\u3052\u306e\u78ba\u7387\u306f\u7d0440%\u3067\u30011\u9031\u9593\u524d\u306e\u7d0450%\u304b\u3089\u4f4e\u4e0b\u3057\u3066\u3044\u307e\u3057\u305f\u30027\u6708\u306b\u3064\u3044\u3066\u306f\u7d0465%\u304c\u7e54\u308a\u8fbc\u307e\u308c\u3066\u3044\u307e\u3057\u305f\u3002\n\n\u30b9\u30a4\u30b9\u3067\u306f\u3001ZEW\u30b5\u30fc\u30d9\u30a4\u306e\u671f\u5f85\u6307\u6570\u304c2\u6708\u306b\u524d\u6708\u306e-4.7\u304b\u30899.8\u3078\u4e0a\u6607\u3057\u3066\u3044\u307e\u3057\u305f\u3002SNB\u306e\u30de\u30eb\u30c6\u30a3\u30f3\u30fb\u30b7\u30e5\u30ec\u30fc\u30b2\u30eb\u7dcf\u88c1\u306f\u3001\u6570\u30ab\u6708\u306b\u308f\u305f\u308a\u30de\u30a4\u30ca\u30b9\u30a4\u30f3\u30d5\u30ec\u3068\u306a\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3068\u8ff0\u3079\u3001\u4eca\u5f8c\u306e\u56db\u534a\u671f\u3067\u30a4\u30f3\u30d5\u30ec\u304c\u4e0a\u6607\u3059\u308b\u3068\u898b\u8fbc\u3093\u3067\u3044\u307e\u3057\u305f\u3002\u52a0\u3048\u3066\u3001SNB\u306f\u70ba\u66ff\u5e02\u5834\u3078\u306e\u4ecb\u5165\u3092\u884c\u3046\u7528\u610f\u304c\u3042\u308b\u3068\u8ff0\u3079\u3066\u3044\u307e\u3057\u305f\u3002\n\n\u6c34\u66dc\u65e5\u306f\u91cd\u8981\u306a\u7c73\u56fd\u6307\u6a19\u306e\u767a\u8868\u4e88\u5b9a\u304c\u306a\u304f\u3001\u540c\u65e5\u5f8c\u534a\u306eFRB\u95a2\u4fc2\u8005\u306e\u767a\u8a00\u306b\u6ce8\u76ee\u304c\u96c6\u307e\u3063\u3066\u3044\u307e\u3057\u305f\u3002\u305d\u306e\u5f8c\u3001\u91d1\u66dc\u65e5\u306b\u767a\u8868\u3055\u308c\u308b\u7c73\u56fdPPI\u3068\u30b9\u30a4\u30b9\u306e\u7b2c4\u56db\u534a\u671fGDP\u5831\u544a\u3078\u3068\u95a2\u5fc3\u304c\u79fb\u3063\u3066\u3044\u307e\u3057\u305f\u3002\n\n2025\u5e74\u521d\u982d\u3092\u632f\u308a\u8fd4\u308b\u3068\u3001USD\/CHF\u304c0.7750\u8fd1\u8fba\u3067\u53d6\u5f15\u3055\u308c\u3066\u3044\u305f\u6642\u671f\u306b\u3001\u5e02\u5834\u306fFRB\u306e\u653f\u7b56\u3092\u3081\u3050\u3063\u3066\u8b70\u8ad6\u3057\u3066\u3044\u307e\u3057\u305f\u3002\u73fe\u5728\u3001\u540c\u30da\u30a2\u304c0.8950\u8fd1\u8fba\u3067\u5e95\u5805\u304f\u63a8\u79fb\u3057\u3066\u3044\u308b\u3053\u3068\u304b\u3089\u3001\u305d\u306e\u5f8c\u306e\u653f\u7b56\u306e\u4e56\u96e2\u304c\u652f\u914d\u7684\u306a\u30c6\u30fc\u30de\u3067\u3042\u3063\u305f\u3053\u3068\u304c\u660e\u78ba\u3067\u3057\u305f\u3002SNB\u304c2025\u5e74\u5f8c\u534a\u306b2\u5ea6\u5229\u4e0b\u3052\u3092\u5b9f\u65bd\u3057\u305f\u4e00\u65b9\u3001FRB\u304c\u636e\u3048\u7f6e\u3044\u305f\u3053\u3068\u3067\u3001\u91d1\u5229\u5dee\u306f\u5927\u5e45\u306b\u62e1\u5927\u3057\u3066\u3044\u307e\u3057\u305f\u3002\n\n

Policy Divergence And Market Implications<\/h3>\n2025\u5e74\u521d\u982d\u306bFRB\u95a2\u4fc2\u8005\u304c\u793a\u3057\u3066\u3044\u305f\u7c98\u7740\u7684\u306a\u30a4\u30f3\u30d5\u30ec\u3078\u306e\u61f8\u5ff5\u306f\u5148\u898b\u7684\u3067\u3042\u308a\u3001\u30b3\u30a2\u30a4\u30f3\u30d5\u30ec\u306f\u76ee\u6a19\u3092\u9811\u56fa\u306b\u4e0a\u56de\u3063\u305f\u307e\u307e\u3067\u3057\u305f\u3002\u6700\u65b0\u306e2026\u5e741\u6708CPI\u3067\u306f\u524d\u5e74\u6bd42.9%\u306e\u4e0a\u6607\u304c\u793a\u3055\u308c\u3066\u304a\u308a\u3001FRB\u306f\u5f53\u9762\u3001\u653f\u7b56\u91d1\u5229\u30924.75\uff5e5.00%\u306e\u7bc4\u56f2\u3067\u7dad\u6301\u3059\u308b\u3068\u898b\u8fbc\u307e\u308c\u3066\u3044\u307e\u3057\u305f\u3002\u3053\u308c\u306f\u30011\u5e74\u524d\u306b\u5927\u5e45\u306a\u7de9\u548c\u304c\u7e54\u308a\u8fbc\u307e\u308c\u3066\u3044\u305f\u5e02\u5834\u60f3\u5b9a\u3068\u306f\u5bfe\u7167\u7684\u3067\u3057\u305f\u3002\n\n\u4e00\u65b9\u3067\u3001SNB\u304c\u6628\u5e74\u8a00\u53ca\u3057\u3066\u3044\u305f\u30de\u30a4\u30ca\u30b9\u30a4\u30f3\u30d5\u30ec\u306e\u53ef\u80fd\u6027\u306f\u3001\u30c7\u30d5\u30ec\u30fb\u30b9\u30d1\u30a4\u30e9\u30eb\u3092\u56de\u907f\u3059\u308b\u305f\u3081\u306e\u65ad\u56fa\u305f\u308b\u5bfe\u5fdc\u3078\u3068\u3064\u306a\u304c\u3063\u3066\u3044\u307e\u3057\u305f\u3002\u30b9\u30a4\u30b9\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u73fe\u57281.3%\u3068\u843d\u3061\u7740\u3044\u305f\u6c34\u6e96\u3067\u63a8\u79fb\u3057\u3066\u304a\u308a\u3001\u4e2d\u592e\u9280\u884c\u304c\u73fe\u884c\u306e\u653f\u7b56\u91d1\u52291.00%\u3092\u5f15\u304d\u4e0a\u3052\u65b9\u5411\u3078\u623b\u3059\u7406\u7531\u306f\u3042\u308a\u307e\u305b\u3093\u3067\u3057\u305f\u3002\u6628\u5e74\u89e6\u308c\u3089\u308c\u3066\u3044\u305f\u3068\u304a\u308a\u3001SNB\u304c\u70ba\u66ff\u5e02\u5834\u306b\u4ecb\u5165\u3059\u308b\u7528\u610f\u304c\u3042\u308b\u3053\u3068\u306f\u3001\u30d5\u30e9\u30f3\u9ad8\u3092\u6291\u3048\u308b\u91cd\u8981\u306a\u8981\u56e0\u3067\u3042\u308a\u7d9a\u3051\u3066\u3044\u307e\u3057\u305f\u3002\n\n\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u53d6\u5f15\u8005\u306b\u3068\u3063\u3066\u306f\u3001\u3053\u306e\u74b0\u5883\u306f\u30d7\u30e9\u30b9\u306e\u30ad\u30e3\u30ea\u30fc\u304c\u5f97\u3089\u308c\u308b\u3068\u3044\u3046\u70b9\u3060\u3051\u3067\u3082USD\/CHF\u306e\u30ed\u30f3\u30b0\u304c\u9b45\u529b\u7684\u3067\u3057\u305f\u3002\u91d1\u5229\u5dee\u304c\u6709\u5229\u306b\u50cd\u304f\u4e2d\u3067\u30d7\u30ec\u30df\u30a2\u30e0\u3092\u7372\u5f97\u3059\u308b\u305f\u3081\u3001\u30a2\u30a6\u30c8\u30fb\u30aa\u30d6\u30fb\u30b6\u30fb\u30de\u30cd\u30fc\u306eCHF\u30b3\u30fc\u30eb\u30aa\u30d7\u30b7\u30e7\u30f3\uff08USD\/CHF\u306e\u30d7\u30c3\u30c8\u30aa\u30d7\u30b7\u30e7\u30f3\u306b\u76f8\u5f53\uff09\u3092\u58f2\u308b\u3068\u3044\u3063\u305f\u6226\u7565\u3092\u691c\u8a0e\u3059\u3079\u304d\u3067\u3057\u305f\u30022025\u5e74\u306b\u61f8\u5ff5\u6750\u6599\u3067\u3042\u3063\u305f\u7c73\u56fd\u901a\u5546\u653f\u7b56\u306b\u95a2\u9023\u3059\u308b\u300c\u69cb\u9020\u7684\u9006\u98a8\u300d\u306f\u3001\u95a2\u7a0e\u4ea4\u6e09\u304c\u7d99\u7d9a\u3057\u3066\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u3092\u751f\u3080\u5f62\u3067\u73fe\u5b9f\u5316\u3057\u3066\u304a\u308a\u3001\u30d7\u30ec\u30df\u30a2\u30e0\u58f2\u308a\u6226\u7565\u306f\u3044\u3063\u305d\u3046\u9b45\u529b\u7684\u306b\u306a\u3063\u3066\u3044\u307e\u3057\u305f\u3002\n\n\u4eca\u5f8c\u6570\u9031\u9593\u3067\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u306e\u7c98\u7740\u6027\u3092\u793a\u3059\u3055\u3089\u306a\u308b\u5146\u5019\u3092\u63a2\u308b\u305f\u3081\u3001\u6b21\u56de\u306e\u7c73\u56fd\u751f\u7523\u8005\u7269\u4fa1\u6307\u6570\uff08PPI\uff09\u306e\u767a\u8868\u3092\u6ce8\u8996\u3057\u3066\u3044\u304f\u3053\u3068\u306b\u306a\u3063\u3066\u3044\u307e\u3057\u305f\u3002\u3055\u3089\u306b\u3001\u30b9\u30a4\u30b9\u306e2025\u5e74\u7b2c4\u56db\u534a\u671f\u306eGDP\u78ba\u5831\u5024\u304c\u6765\u9031\u767a\u8868\u3055\u308c\u3001\u5f31\u3044\u7d50\u679c\u3068\u306a\u308c\u3070SNB\u306e\u30cf\u30c8\u6d3e\u59ff\u52e2\u3092\u88dc\u5f37\u3059\u308b\u3053\u3068\u306b\u306a\u3063\u3066\u3044\u307e\u3057\u305f\u3002\u3053\u306e\u653f\u7b56\u4e56\u96e2\u3092\u88cf\u4ed8\u3051\u308b\u30c7\u30fc\u30bf\u304c\u51fa\u308c\u3070\u3001\u540c\u30da\u30a2\u306e\u8ffd\u52a0\u7684\u306a\u652f\u63f4\u6750\u6599\u3068\u306a\u308b\u53ef\u80fd\u6027\u304c\u9ad8\u304b\u3063\u305f\u3067\u3057\u305f\u3002\n\n\n

\u30c8\u30ec\u30fc\u30c7\u30a3\u30f3\u30b0\u3092\u59cb\u3081\u307e\u3057\u3087\u3046 – \u3053\u3053\u3092\u30af\u30ea\u30c3\u30af<\/a>\u3057\u3066VT Markets\u53e3\u5ea7\u3092\u958b\u8a2d<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

\u9a5a\u304f\u3079\u304d\u653f\u7b56\u5dee\u304cUSD\/CHF\u3092\u62bc\u3057\u4e0a\u3052\u305f\u306e\u3067\u3057\u305f\u3002\u7c73\u30a4\u30f3\u30d5\u30ec\u7c98\u7740\u3067\u5229\u4e0b\u3052\u89b3\u6e2c\u5f8c\u9000\u3001SNB\u306f\u4f4e\u30a4\u30f3\u30d5\u30ec\u3067\u7de9\u548c\u7d99\u7d9a\u3002\u91d1\u5229\u5dee\u3068\u30ad\u30e3\u30ea\u30fc\u304c\u8ffd\u3044\u98a8\u3001\u30aa\u30d7\u30b7\u30e7\u30f3\u58f2\u308a\u3082\u5999\u5473\u3067\u3057\u305f\u3002 – vtmarketsjp.com<\/p>\n","protected":false},"author":75,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[40],"tags":[],"class_list":["post-35786","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/posts\/35786","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/users\/75"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/comments?post=35786"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/posts\/35786\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/media?parent=35786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/categories?post=35786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/jp-asia\/wp-json\/wp\/v2\/tags?post=35786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}