Fundamental OverviewThe US Dollar remains the strongest currency but overall, we haven’t got much action in the past couple of weeks due to the lack of key catalysts and the market’s pricing remaining largely unchanged around roughly three rate cuts by the end of 2025. During the Asian session, we saw the greenback getting a bid as Trump said that he will charge Mexico and Canada a 25% tariff on all products coming into the US and will charge China an additional 10% tariff.On the CHF side, the market continues to price a 72% chance of a 25 bps cut in December and a total of 70 bps of easing by the end of 2025. Last week, SNB’s President Schlegel said that the central bank will use negative
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