Swiss Franc Steadies Near Highs, Dollar Slips; Euro and Asian FX Follow

Euro Edges Higher Ahead of Busy Central‑Bank Week

In Europe, the single currency advanced 0.48 % to $1.1354 amid calmer trading conditions. Attention now shifts to Thursday’s Bank of England meeting—where a 25‑bp cut to 4.25 % is widely expected—and to rate decisions from Norway’s Norges Bank and Sweden’s Riksbank, both forecast to hold steady. Any surprises in guidance could ripple through EUR/CHF, given its sensitivity to regional rate differentials.

Taiwan Dollar Surge Sparks Talk of Coordinated Revaluations

Across Asia, the dollar’s notable weakness stemmed from a 5.7 % jump in the Taiwan dollar—on top of Friday’s 4.4 % surge—propelling TWD to near three‑year highs. Speculation swirled that Taipei, and perhaps others, may be letting currencies appreciate to secure U.S. trade concessions. Taiwan’s central‑bank governor quickly denied any FX‑related talks with Washington.

Broader Asia‑Pacific Moves Hit Greenback

* JPY: USD/JPY fell 0.7 % to ¥143.94. * AUD: Aussie climbed to a five‑month peak at $0.6493. * Offshore CNY: Yuan touched its strongest in six months at 7.188 per dollar on hopes Beijing may allow appreciation during tariff talks.

Dollar Faces Domestic Hurdles

Although strong March payrolls cut the probability of a June Fed rate cut to 37 %, the dollar struggled to retain momentum. Monday’s ISM services survey is the next hurdle; a soft reading could rekindle recession fears. President Trump reiterated confidence in striking a China deal but offered no timeline, while again urging lower U.S. rates.