USD/CHF flatlines in 0.9300 area, bulls eye test of H2 2021 highs around 0.9370 on Fed speak/US data packed week By Frank_Macro USDCHF SNB Fed Inflation
USD/CHF is trading flat just above 0.9300 after ignoring Fed’s Daly and SNB’s Jordan ahead of more Fed speak.Bulls are eyeing a test of H2 2021 highs in the 0.9370 area.flatlined on Monday, as the safe-haven Swiss franc and US dollar both underperformer their other more risk-sensitive G10 peers amid a broad pick up in the market’s appetite for risk. The pair did manage to squeeze out a fresh 10-week high in the 0.9340s but has since ebbed back to trading flat on the day just above the 0.
Meanwhile, the latest remarks from San Francisco Fed President Mary Daly were also broadly ignored by FX markets. Daly threw her support behind the removal of extraordinary monetary stimulus this year. Reading between the lines, she also hinted that she could be open to five 25bps hikes, as she said that ending the year with rates at 1.25% would still mean providing support to the economy.
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