The USD/CHF pair rebounds from the round-level support of 0.8900 in the European session on Monday.
USD/CHF recovers from 0.8900, tracing the US Dollar’s bounce back. The Fed policy remains in the spotlight, in which it is expected to cut interest rates by 25 bps to 4.25%-4.50%. On Thursday, the SNB unexpectedly cut its key borrowing rate by 50 bps to 0.5%. The Swiss Franc pair bounces back as the US Dollar recovers its intraday losses and turns positive, with the US Dollar Index ticking higher around 107.00.
In today’s session, investors will focus on the flash United States S&P Global Purchasing Managers’ Index data for December, which will be published at 14:45 GMT. The PMI report is expected to show moderate growth in the overall business activity. Meanwhile, the Swiss Franc remains broadly under pressure as investors expect the Swiss National Bank to return to an ultra-loose policy trajectory to avoid growing risks to inflation, undershooting the bank’s target of 2%.
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