USD/CHF bears prod seven-week-old support near 0.8920, SNB, Fed Powell eyed – by anilpanchal7 USDCHF SNB Fed RiskAversion CentralBanks
Hawkish hopes from SNB, Fed Chair Powell’s failure to impress US Dollar bulls lure sellers.Powell’s testimony in front of Senate Banking Committee will offer extra directions.remains pressured near 0.8925, poking the weekly low amid early Thursday after printing the first daily loss in four the previous day.
Apart from these catalysts, hopes of China stimulus and the US-China tension also weighed on the USD/CHF prices, due to its risk-barometer status. The People’s Bank of China’s rate cut joins the Chinese Ministry of Finance's announcement of tax incentives to suggest more stimulus from the world’s biggest commodity user.
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