The USD/CHF pair trades in a limited range near 0.8850 in Tuesday’s American session.
USD/CHF consolidates near 0.8850 with a focus on the Fed policy. The Fed is expected continue maintaining the status quo. Investors will also focus on the Swiss CPI for July. The Swiss Franc asset consolidates as investors have sidelined with focus on the outcome of Fed eral Reserve’s monetary policy meeting on Wednesday. The Fed is expected to leave interest rates unchanged in the range of 5.25%-5.50% for the eighth time in a row.
The peg was abruptly removed, resulting in a more than 20% increase in the Franc’s value, causing a turmoil in markets. Even though the peg isn’t in force anymore, CHF fortunes tend to be highly correlated with the Euro ones due to the high dependency of the Swiss economy on the neighboring Eurozone. Why is the Swiss Franc considered a safe-haven currency? The Swiss Franc is considered a safe-haven asset, or a currency that investors tend to buy in times of market stress.
Fed CPI Dollarindex Supportresistance
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