USD/CHF continues to gain ground for the third successive session, trading around 0.9090 during the Asian hours on Tuesday. The US Dollar edges higher against the Swiss Franc (CHF) due to cautious statements from Federal Reserve (Fed) officials, emphasizing the importance of maintaining higher rates for longer given the elevated inflation. Fed Vice Chair Philip Jefferson reiterated this stance on Monday, advocating for keeping current interest rates until signs of inflation easing emerge.On Tuesday, traders will likely watch the US Producer Price Index (PPI), a pivotal economic indicator. The PPI report could significantly impact the US market. Traders may use the PPI data to assess the potential outcome of the Consumer Price Index (CPI). If the PPI data exceeds expectations, it could further strengthen the US Dollar.On the Swiss front, SECO Consumer Climate (YoY) experienced a slight decline in April, with a reading of -38.1. However, it still significantly trailed the long-term average. On Tuesday, Producer and Import Prices data for April is due, an indicator of consumer price inflation provided by the Federal Statistical Office of Switzerland.The Swiss Franc may struggle as the Swiss National Bank (SNB) has redirected its attention from deliberately strengthening the Swiss Franc (CHF), as the central bank intensifies its focus on combating inflation. Last week, the SNB saw its foreign exchange reserves climb to CHF 720 billion in April, marking the fifth consecutive increase. USD/CHF
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