USDCHF Technical Analysis – Can’t get out of the range ...Middle East

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USDCHF Technical Analysis – Can’t get out of the range
Fundamental OverviewThe USD got a bit of a boost yesterday as Fed Chair Powell reiterated that 50 bps of easing by year end remains the base case. The market’s probability for the Fed to cut by 50 bps in November fell from 51% to 40%.The focus remains on the economic data. If we start to see an improvement, then Treasury yields will likely rise and drive USDCHF higher. Conversely, if the data weakens significantly, the market will start to worry about a recession and take USDCHF lower.For the CHF, the SNB last week cut rates by 25 bps bringing the policy rate to 1.00%. The central bank mentioned that it’s prepared to intervene in currency markets as necessary and the new inflation forecasts

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