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USD/CHF Spikes Above 0.9750 but Fails to Sustain Gains
USD/CHF spiked to fresh daily highs as the greenback strengthened broadly on the back of Fed’s statement on monetary policy.
The
Fed left the target range for the fed funds unchanged at 0.25%-0.50% as
widely expected, but removed reference to the global and financial
developments posing risks to their outlook, tilting the statement to the
hawkish side.
USD/CHF wavered from a low of 0.9679 to a peak of
0.9751 in a matter of minutes but failed to sustain gains and pulled
back to negative ground for the day. At time of writing, the pair is
trading at 0.9715, 0.19% below its Wednesday’s opening.