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USD/CHF extends losses with traders awaiting Fed cut and Powell guidance
Key Takeaways (30s Read)
The Swiss Franc strengthens against the US Dollar as traders await Fed guidance.
USD/CHF has extended losses for a second consecutive day, with the Swiss Franc trading firmer against the US Dollar. This follows traders closely monitoring today’s Federal Reserve interest rate decision scheduled for 19:00 GMT. The market sentiment is leaning towards a potential rate cut by the Fed, especially in response to Jerome Powell's upcoming guidance. The current weakness of the Dollar reflects investor caution, waiting for signals about monetary policy changes. Concurrently, the Swiss Franc's strength highlights its appeal as a safe-haven asset in ongoing risk-off conditions. While further declines in USD/CHF are anticipated, short-term corrections should not be ruled out.
AI Analyst
AI Opinion
"The current movement in USD/CHF reflects a critical market situation ahead of the Federal Reserve's interest rate decision. Investors are factoring in the possibility of a rate cut, leading to a weakening Dollar while the Swiss Franc strengthens. Jerome Powell's forthcoming comments will wield significant influence over market sentiment. In the ongoing risk-off environment, the demand for the Swiss Franc as a safe-haven asset may add further pressure on the Dollar. However, depending on the guidance provided by Powell, the opposite movement cannot be ruled out, necessitating caution on the part of traders. Careful judgment amid evolving situations will be essential."
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