- USD/CHF picks up bids to consolidate the previous day’s losses even if bulls lack upside momentum.
- Fed policymakers’ hesitance in backing pivot calls, despite favoring easy rate hikes, trigger US Treasury yield rebound.
- More clues for US inflation eyed for confirmation of bearish bias.
USD/CHF adds to the weekly gains around 0.9285, despite previous slump to a 10-month low, as traders await more clues to confirm the dovish bias from the Federal Reserve (Fed). Also likely to have probed the Swiss Franc (CHF) bears could be the latest chatters surrounding the US-China ties and a light calendar.
Recently, Atlanta Federal Reserve Bank President Raphael Bostic mentioned that he would be comfortable moving at 25 basis points if conversations with business leaders are consistent with slowing inflation. Fed’s Bostic previously stated that it is ”fair to say that the Fed is willing to overshoot.” Even so, the policymaker refrained from backing the talks that the Fed will stop rate hikes in 2023.
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