FX Daily: Swiss franc becomes favourite funding currency
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https://think.ing.com/articles/fx-daily-swiss-franc-becomes-favourite-funding-currency/
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4 itemsFX Daily: Swiss franc becomes favourite funding currency
The desk argues that the Swiss franc (CHF) is poised to become the favored funding currency amid a hawkish shift anticipated from the Federal Reserve at the upcoming FOMC meeting. Citing the source commentary, the dollar remains supported as traders adjust positions, with a near 40% probability priced for a rate hike. Notably, the Swiss National Bank's commitment to a 0.00% policy rate through 2027 further reinforces the bullish outlook for the CHF. This dynamic places USD/CHF as a potential leader if the Fed signals a stronger tightening path. Per the full note [source], the dollar's resilience appears to cap EUR/USD near current levels as traders watch for confirmations from upcoming data releases.