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US Dollar to Swiss Franc Exchange Rate Crash could be Reversed by Trump Election Victory
Published: 7 Nov at 4 PM Tags: Dollar Exchange Rate, Currency Exchange, Forex, Swiss Franc Exchange Rate, Inflation,
US Dollar Rally Expected to Fade when US Election Voting Begins
The US Dollar found itself in extremely high demand during trading on Monday, thanks mainly to election-based news. Against the Swiss Franc, the US Dollar posted a 1.1% rise at a rate of 0.97.
Following the previous controversial FBI announcement that it was reinvestigating the Clinton email saga, FBI Director James Comey has since cleared the Democrat candidate of wrongdoing.
This put Clinton firmly back on the campaign trail as a possible President, which sent the US Dollar rallying due to the odds of a stability-linked Clinton victory rising.
While the polls still remain tight, the hope is that Clinton will manage to defeat the risk-linked Donald Trump in the vote, which would potentially prevent a massive crash in the US Dollar’s value.
The vote itself is due to start on Tuesday afternoon, while the count is expected to be concluded by Wednesday morning, at which point the next President of the United States is likely to be known.
During voting, the US Dollar is expected to either flatline or slump against the Swiss Franc due to uncertainty, while as results start to come in, signs of a Clinton victory are expected to keep the currency stable.
Gold Boom Could Turn CHF Bullish on Wednesday
Although the Franc has fallen heavily against its peers during trading today, hitting 1.02 against the US Dollar, it may yet rally in the face of adversity, depending on how the US election turns out.
In domestic news, the latest Swiss inflation figures for October have proven disappointing, with the annual figure remaining at -0.2% instead of rising as forecast. Additionally, on the month a rise from 0.1% to 0.2% had been predicted but no overall change was observed in the figure.
The winds may change over the next few days for the Swiss Franc, however, should Donald Trump clinch the presidency with a surprise win.
While this outcome is forecast to cause an immediate drop in the US Dollar, a converse jump in the price of gold is predicted to take place due to investors piling into commodities instead of currencies.
Should this occur, the Franc is forecast to soar given that Switzerland holds key gold reserves that would increase in value.
The US Dollar found itself in extremely high demand during trading on Monday, thanks mainly to election-based news. Against the Swiss Franc, the US Dollar posted a 1.1% rise at a rate of 0.97.
Following the previous controversial FBI announcement that it was reinvestigating the Clinton email saga, FBI Director James Comey has since cleared the Democrat candidate of wrongdoing.
This put Clinton firmly back on the campaign trail as a possible President, which sent the US Dollar rallying due to the odds of a stability-linked Clinton victory rising.
While the polls still remain tight, the hope is that Clinton will manage to defeat the risk-linked Donald Trump in the vote, which would potentially prevent a massive crash in the US Dollar’s value.
The vote itself is due to start on Tuesday afternoon, while the count is expected to be concluded by Wednesday morning, at which point the next President of the United States is likely to be known.
During voting, the US Dollar is expected to either flatline or slump against the Swiss Franc due to uncertainty, while as results start to come in, signs of a Clinton victory are expected to keep the currency stable.
Gold Boom Could Turn CHF Bullish on Wednesday
Although the Franc has fallen heavily against its peers during trading today, hitting 1.02 against the US Dollar, it may yet rally in the face of adversity, depending on how the US election turns out.
In domestic news, the latest Swiss inflation figures for October have proven disappointing, with the annual figure remaining at -0.2% instead of rising as forecast. Additionally, on the month a rise from 0.1% to 0.2% had been predicted but no overall change was observed in the figure.
The winds may change over the next few days for the Swiss Franc, however, should Donald Trump clinch the presidency with a surprise win.
While this outcome is forecast to cause an immediate drop in the US Dollar, a converse jump in the price of gold is predicted to take place due to investors piling into commodities instead of currencies.
Should this occur, the Franc is forecast to soar given that Switzerland holds key gold reserves that would increase in value.
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Source: moneytransfer.co.uk