The Swiss franc strengthened slightly to around 0.80 per USD, as the dollar weakened on expectations of a Federal Reserve rate cut following soft US economic data. Safe-haven demand also rose amid growing global debt concerns, alongside persistent trade uncertainties and geopolitical tensions. Locally, attention turns to the upcoming August Swiss CPI data, which may guide the SNB’s September policy decisions. Inflation is expected to rise 0.2% year-on-year, with monthly growth flat for a second month, remaining well below the 2% target set by the Swiss National Bank.