USD/CHF retraces its losses from the previous session after the hawkish hold from the US Federal Reserve (Fed).
USD/CHF gained ground as FOMC left its benchmark lending rate in the range of 5.25%–5.50% on Wednesday. Powell stated,“We don't see ourselves as having the confidence that would warrant policy loosening at this time.” Swiss Franc may see limited downside as SNB is unlikely to implement a rate cut in June. USD/CHF retraces its losses from the previous session after the hawkish hold from the US Federal Reserve .
In a press conference following the Fed's decision, Fed Chair Jerome Powell noted that the restrictive stance on monetary policy is having the expected effect on inflation. So far this year, we have not gained greater confidence on inflation to warrant a rate cut, Powell added. On the Swiss side, the Swiss National Bank is unlikely to implement an interest rate cut in June, which is likely to provide support for the Swiss Franc . Previously, SNB Chairman Thomas J.
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