USD/CHF Aims for Recovery as Fed Policy Takes Center Stage
The USD/CHF pair has extended its recovery being supported by the US Dollar ahead of Fed policy. The Swiss’s annual Real Retail Sales contracted sharply by 1.9%, which indicates that the Swiss economy is struggling to tame stubborn inflation. Investors are running for the US Dollar Index (DXY) as a safe-haven ahead of the interest rate decision by the Federal Reserve (Fed), and this has resulted in the pair preparing for a bullish reversal as it is gathering strength after breaking the declining trendline plotted at 0.9439.