As the US dollar recovers after the Fed's policy decision, USD/CHF rises even further to around 0.7900.
The Fed signaled two more rate cuts this year at a similar pace after lowering interest rates by 25 basis points.
Key US Initial Jobless Claims data for the week ending September 12 is anticipated by investors.
During Thursday's late Asian trading session, the USD/CHF pair continues to recover, closing close on 0.7900. Following Wednesday's Federal Reserve (Fed) monetary policy decision, the US dollar (USD) gains ground and the Swiss franc pair recovers.
The US Dollar Index (DXY), which measures the value of the US dollar relative to six major currencies, continues Wednesday's recovery move to close to 97.15 at the time of writing.
The Fed has lowered interest rates by 25 basis points (bps) to 4.00%-4.25%, but has signaled two more rate cuts for the rest of the year, thus the US dollar's future is still uncertain. The Fed said that deteriorating labor market conditions in the United States (US) made monetary policy changes necessary.
In his news conference after the monetary policy announcement, Fed Chair Jerome Powell admitted that the employment market has weakened and warned of a declining US labor demand. Powell stated, "I can no longer say that the job market is solid."
Investors will be watching the Initial Jobless Claims data for the week ending September 12 at 12:30 GMT on Thursday. As Fed dovish conjecture grew last week after the unemployment claims data indicated the highest level in four years, investors will be eagerly watching the data.
To determine if the Swiss National Bank (SNB) will drive interest rates into negative territory amid adverse inflation risks, traders in the Swiss economy are waiting for a significant trigger. Over the last two months, the Swiss economy's consumer inflation rate has been expanding at a low rate of 0.2% annually.
The Fed signaled two more rate cuts this year at a similar pace after lowering interest rates by 25 basis points.
Key US Initial Jobless Claims data for the week ending September 12 is anticipated by investors.
During Thursday's late Asian trading session, the USD/CHF pair continues to recover, closing close on 0.7900. Following Wednesday's Federal Reserve (Fed) monetary policy decision, the US dollar (USD) gains ground and the Swiss franc pair recovers.
The US Dollar Index (DXY), which measures the value of the US dollar relative to six major currencies, continues Wednesday's recovery move to close to 97.15 at the time of writing.
The Fed has lowered interest rates by 25 basis points (bps) to 4.00%-4.25%, but has signaled two more rate cuts for the rest of the year, thus the US dollar's future is still uncertain. The Fed said that deteriorating labor market conditions in the United States (US) made monetary policy changes necessary.
In his news conference after the monetary policy announcement, Fed Chair Jerome Powell admitted that the employment market has weakened and warned of a declining US labor demand. Powell stated, "I can no longer say that the job market is solid."
Investors will be watching the Initial Jobless Claims data for the week ending September 12 at 12:30 GMT on Thursday. As Fed dovish conjecture grew last week after the unemployment claims data indicated the highest level in four years, investors will be eagerly watching the data.
To determine if the Swiss National Bank (SNB) will drive interest rates into negative territory amid adverse inflation risks, traders in the Swiss economy are waiting for a significant trigger. Over the last two months, the Swiss economy's consumer inflation rate has been expanding at a low rate of 0.2% annually.
