USD/CHF keeps Fed inflicted losses below 0.9200 ahead of SNB Interest Rate Decision – by anilpanchal7 USDCHF Fed SNB RiskAversion InterestRate
USD/CHF fades bounce off one-week low ahead of Swiss National Bank Monetary Policy announcements.
Fed’s dovish rate hike drown US Dollar even as Chairman Powell, US Treasury Secretary Yellen offered corrective bounce afterward. SNB is likely to announce 0.50% rate hike but Monetary Policy Assessment will be crucial to watch amid banking crisis.retreats to 0.9173, following the Federal Reserve induced slump to one-week low, as traders prepare for the Swiss National Bank announcements during early Thursday.
On Wednesday, US Federal Reserve matched market forecasts and announced 0.25% rate hike but failed to propel the US Dollar as the Fed statement mentioned “some additional policy firming may be appropriate,” instead of “ongoing increases in the target range will be appropriate”. Fed Chair, however, tried to tame the rate cut hopes by saying that officials do not see rate cuts for this year, which in turn allowed breathing space to the greenback bears in the last.
Apart from the Fed announcements, US Treasury Secretary Janet Yellen’s comments also allowed the US Dollar Index to rebound from a seven-week low, by way of challenging theAgainst this backdrop, Wall Street closed in the red but yields andLooking ahead, the Swiss National Bank’s Interest Rate Decision is the key for the USD/CHF pair traders to watch as the bank is likely to announce a dovish hike considering the latest banking sector fallouts, mainly surrounding Credit Suisse.
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