Swiss Economy Shaken by Surprise 39%

🔸 Key Forex News
• RBI’s $5 Billion Forex Swap Maturity in India
A major $5 billion dollar‑rupee swap initiated by the Reserve Bank of India in late January is maturing today (August 4, 2025). Depending on how it's settled, up to ₹43,000 crore may be withdrawn from banks, potentially tightening liquidity in India’s financial system 

• Swiss Economy Shaken by Surprise 39% U.S. Tariffs
U.S. officials unexpectedly imposed a 39% tariff on Swiss exports, fueling a sharp decline in the Swiss franc and stock markets. This action has also undermined investor confidence across the eurozone, with the Sentix index falling to –3.7 

• EUR/USD and USD/JPY in Focus
EUR/USD recently rallied past the 1.1700 mark as uncertainty over US‑EU trade talks and the Fed’s rate path weighed on the dollar 

USD/JPY continues to undergo technical consolidation following recent risk‑off flows and remains sensitive to upcoming central bank decisions 

• SWIFT & Spread Fee Relief in South Africa
Fintech provider 80eight has waived SWIFT fees for three months and cut ‘spread’ fees by up to 50% to ease cross‑border forex costs in South Africa—offering a more transparent and affordable alternative to banks