The USD/CHF pair
rose further during the US session driven mainly by a weaker Swiss franc. Also,
a correction of the US dollar against European currencies helped the pair moved
to the upside.
Earlier today, the pair bottomed at 0.9715, the lowest since September 27. It fell after comments from Fed’s officials and also the FOMC minutes that pointed to a more caution and patient central bank. So far, from the lows, USD/CHF gained over a hundred pips. Recently reached 0.9844, the strongest since Monday.
The last run higher took place during Jerome Powell’s presentation and also comments from other Fed’s officials speaking in favor of a pause in the rate hike cycle. The change in market exceptions about the outlook for the Fed Funds rate weakened the greenback in the market but still, it managed to post gains versus the Swiss franc that lost ground across the board. EUR/CHF jumped from 1.1245 to 1.1315, the highest since December 24.