USDCHF Technical Analysis – The pair is back at the key support ...Middle East

Fundamental OverviewThe USD last week lost ground across the board following the soft US CPI report as the market priced back in two rate cuts by the end of the year. The moves were reversed soon after though as we got a bit more hawkish than expected FOMC decision where the dot plot showed that the Fed expected just one cut for this year despite the soft US CPI report. Fed Chair Powell backpedalled on the projections nonetheless making them a bit less worrying as the central bank remains very data dependent. The CHF, on the other hand, got a boost a couple of weeks ago from SNB’s Jordan comments where he said that if upward risks to Swiss inflation were to materialise, these would most like

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