Fundamental OverviewThe Swiss Franc lost some more ground against the USD last Thursday as the US Jobless Claims figures came out better than expected. That helped ease the fears around the US labour market triggered by the weak NFP report and improved the risk sentiment. The market has been slowly paring back the aggressive rate cuts expectations for the Fed as now a 25 bps cut in September is seen as more likely with a total of 98 bps of easing by year-end. On the SNB side, the market is fully pricing a 25 bps cut in September and a total of 46 bps of easing by year-end. USDCHF Technical Analysis – Daily TimeframeOn the daily chart, we can see that USDCHF almost erased the entire drop from
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