The Swiss franc strengthened to around 0.80 per USD, buoyed by dollar weakness amid growing expectations of Fed interest rate cuts. Domestic data, however, pointed to a marked economic slowdown. Swiss GDP expanded at an annual rate of 1.2% in Q2, down from 1.8% in the previous quarter and below the expected 1.4%. Meanwhile, the KOF Leading Indicator, which tracks future economic activity, dropped to 97.4 in August from 101.3 in July, below the market consensus of 98.0.