The Swiss National Bank (SNB) chose to keep interest rates unchanged at its latest meeting, aligning with market expectations. This decision was influenced by a downward trend in inflation and a sluggish Gross Domestic Product (GDP) in Switzerland.

SNB Chairman Thomas Jordan noted a slight easing of inflationary pressures, emphasizing economic uncertainties. There's an anticipation of a moderate increase in inflation in the coming months, with the projection that Swiss inflation will remain around the target of 2% until 2026.

The US Dollar Index (DXY) made slight gains previously, with positive sentiments from Federal Reserve members. Raphael Bostic, the Atlanta Fed President, suggested the possibility of a rate cut in the third quarter of 2024. Meanwhile, Esther George, the Kansas City Fed President, hinted at a potential rate adjustment in the Federal Reserve's March meeting next year.