The US Dollar (USD) posts minuscule gains against the Swiss Franc (CHF), ahead of monetary policy decisions by the US Federal Reserve (Fed) and the Sw
USD/CHF trades at 0.8977, a marginal gain of 0.01%, as investors await the Federal Reserve’s policy decision and updated economic projections.
Market odds for a November rate hike by the Fed dip below 30%, potentially setting the stage for USD weakness.The US Dollar posts minuscule gains against the Swiss Franc , ahead ofdecisions by the US Federal Reserve and the Swiss National Bank . At the time of writing, the USD/CHF is trading at 0.8977, gaining 0.01% after hitting a daily low of 0.8949.
US Dollar and Swiss Franc locked in a tight range ahead of pivotal monetary policy updates from the Federal Reserve and Swiss National Bankimproved, as shown by Wall Street’s finishing with solid gains as investors await the Federal Reserve to keep rates unchanged at Wednesday’s meeting.
On the other hand, the Swiss National Bank would likely hike rates by 25 bps, towards 2%, seen as investors as peak , according to money market futures. Although the latest inflation report in Switzerland witnessed a 1.6% YoY uptick, it remains below the central bank’s 2% target. Nevertheless, the SNB would likely maintain its restrictive stance to stabilize prices.From a technical standpoint, the major is set to extend its rally, reaching a new multi-month high of around 0.8982. Buyers are still eyeing the 0.9000 figure, followed by the 200-day Moving Average at 0.9038.
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