USD/CHF PRICE ANALYSIS: RANGES NEAR 0.8850 IN COUNTDOWN TO FED POLICY
- USD/CHF consolidates near 0.8850 with a focus on the Fed policy.
- The Fed is expected continue maintaining the status quo.
- Investors will also focus on the Swiss CPI for July.
The USD/CHF pair trades in a limited range near 0.8850 in Tuesday’s American session. The Swiss Franc asset consolidates as investors have sidelined with focus on the outcome of Federal Reserve’s (Fed) monetary policy meeting on Wednesday.
The Fed is expected to leave interest rates unchanged in the range of 5.25%-5.50% for the eighth time in a row. Therefore, investors will focus on the Fed’s guidance on interest rates. In the monetary policy statement and the press conference, Fed Chair Jerome Powell is expected to acknowledge progress in inflation and cooling labor market strength, which would boost expectations that the central bank will start reducing interest rates from the September meeting.
Fed policymakers have admitted that recent inflation readings have suggested that price pressures have returned to their path of 2% but refrained from committing a timeframe for it.
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