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Switzerland published the consumer price index (CPI - the main measure of inflation, the growth in prices of goods and services for the population) for October. The figures came in above expectations for both monthly and annual dynamics.
Cleveland Fed President Beth Hammack said the U.S. economy remains strong and inflation is high. In her view, the Fed needs to continue tightening monetary policy, although the pace of rate hikes may be adjusted.
The USD/CHF pair rose to 0.8367 on the morning of October 1, a 16-month high, and has been rising for the seventh consecutive trading session. Pressure on the franc was intensified by weak investor expectations for the Swiss economy and the SNB's dovish stance.
