英镑/瑞郎 (GBPCHF) 加自选

瑞士法郎从一个月低点反弹，上涨近1%，至每美元0.80左右，这得益于美元走软，此前就业报告低于预期，提振了人们对美联储9月份降息的预期。由于担心美国关税对全球经济和美国的影响，法郎也因其避险地位而走强。特朗普总统7月31日的行政命令规定了10%的全球最低关税，对美国有贸易顺差的国家的关税将升至15%或更高。瑞士受到的打击尤其严重，其39%的出口关税将于8月7日生效，这是全球最高的关税之一。这一比率超过了4月份最初提出的31%，预计将严重影响奢侈手表和制药等关键出口行业。在这种情况下，6月份将利率降至零的瑞士国家银行可能被迫采取更温和的立场。其下一次政策会议定于2025年9月25日举行。

The Swiss franc rebounded from one-month lows, rising nearly 1% to around 0.80 per USD, aided by a weaker dollar after a softer-than-expected jobs report boosted expectations of a Fed rate cut in September. The franc also drew strength from its safe-haven status amid concerns about the effects of the US tariffs on the global economy and the US. President Trump’s July 31 executive order imposed a 10% global minimum tariff, with rates rising to 15% or higher for countries running trade surpluses with the US. Switzerland was hit particularly hard, with a 39% tariff on its exports—one of the highest globally—set to take effect on August 7. The rate exceeds the 31% initially proposed in April and is expected to severely impact key export sectors such as luxury watches and pharmaceuticals. In this scenario, the Swiss National Bank, which cut interest rates to zero in June, may be forced to adopt an even more dovish stance. Its next policy meeting is scheduled for 25 September 2025.