USD/CHF pares the biggest daily loss in a week above 0.9200 ahead of FOMC – by anilpanchal7 USDCHF SNB Fed RiskAversion Banks
It’s worth noting that the increased optimism joined mixed headlines from Switzerland to weigh on the USD/CHF prices the previous day. However, the pre-Fed anxiety and a light calendar seem to have restricted the quote’s latest moves, allowing traders to pare earlier losses.
Talking about the data, a reduction in the Swiss trade surplus in February joined downbeat Exports and a mild improvement in Imports to suggest a foggy picture of Switzerland’s foreign trade on Tuesday. On the same line, the US Existing Home Sales for February marked a notable jump of 14.5% versus 0.0% expected and -0.7% prior. However, the Philadelphia Fed Non-Manufacturing Business Outlook survey gauge dropped to -12.8 in March and tamed the US Dollar-linked optimism afterward.
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