The USD/CHF pair trades back and forth above the psychological resistance of 0.
USD/CHF remains comfortable above 0.9000 as the focus shifts to Fed monetary policy. The market mood remains vulnerable as the Israeli army is all set for a ground assault in Gaza. Investors await the Fed policy and the speech from SNB Jordan. 9000 in the early European session. The Swiss Franc asset aims to extend upside as investors remain cautious ahead of the interest rate decision by the Federal Reserve , which is scheduled for Wednesday.
The market participants expect that excess price pressures above the 2% inflation target are the most stubborn as the US economy is resilient despite higher borrowing costs. Therefore, hawkish guidance would be appropriate. Apart from easing price pressures, higher US long-term bond yields are allowing Fed policymakers to keep interest rates steady. 10-year US Treasury yields have rebounded to near 4.88%.
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