The USD/CHF recovered after whipsawing after the Federal Reserve lowered borrowing costs by 50 basis points (bps), though it reaffirmed its data-dependent stance, according to Chairman Jerome Powell.
USD/CHF recovers slightly post-Fed decision, yet buyers struggle to significantly elevate the rate. Fed enacts a 50 bps rate cut, forecasts a 4.4% federal funds rate by 2024, and maintains a data-driven policy stance. Jerome Powell notes reduced inflation risks, with flexibility for adjusting the pace of future rate cuts as necessary.
’ The next resistance would be the August 15 peak at 0.8748. Conversely, if USD/CHF drops below 0.8400, look for a re-test of the year-to-date low of 0.8373. Swiss economy FAQs Where does Switzerland stand in terms of economic power? Switzerland is the ninth-largest economy measured by nominal Gross Domestic Product in the European continent.
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