Swiss Franc futures tumble to worst day since March.

Swiss Franc futures declined sharply against the U.S. dollar, dropping 1.06% to an intraday low of 1.2040 to register their largest single-day percentage decline since March 2. Greenback strength expanded after core CPI increased 0.3% month over month, hitting the threshold Fed Governor Christopher Waller indicated would open discussion for a 50 bps move. The CME FedWatch Tool now fully prices a December policy increase, reflecting an 86.9% probability of a 25 bps hike and a 13.1% chance of a half-point adjustment. Meanwhile, the Swiss National Bank maintains its policy rate at zero with inflation remaining contained, setting up potential further policy divergence between the two central banks.