Solid Gold Berjangka – The USD/CHF pair strengthened again during Wednesday’s Asian trading session (October 21, 2026), hovering around 0.8260 following a decline in the previous session. The US dollar found support from demand for safe-haven assets, as rising oil prices reignited concerns regarding global inflationary pressures.
Oil prices climbed as the market monitored diplomatic developments between the United States and Iran. Although negotiations are ongoing, investors remain cautious following high-level meetings in Tehran that addressed bilateral relations and the status of talks with Washington. Expectations for an imminent agreement are considered premature.
Regarding monetary policy, market attention is focused on the Federal Reserve’s meeting scheduled for October 27–28. Market participants estimate an 83.9% probability that the Fed will keep interest rates unchanged at this meeting, while the likelihood of a rate hike in December remains around 90%.
Fed Chair Kevin Warsh has yet to provide clear guidance on the October interest rate decision. This stance leaves investors weighing the possibility of a tighter monetary policy for a longer period—particularly if rising energy costs further intensify inflationary pressures within the United States.
Meanwhile, the Swiss franc faced additional pressure from domestic trade data. Switzerland’s trade surplus narrowed to CHF 1.31 billion in September—down from CHF 4.2 billion previously—marking its lowest level since November 2022. Imports surged by 24.9% month-on-month, while exports grew by only 1.5%; this fundamental divergence has provided room for the USD/CHF pair to sustain its gains. (srh)