The USD/CHF pair touches its highest level since late June during the Asian session on Thursday, with bulls now looking to build on the momentum furth
The US Dollar builds on the previous day's hawkish Federal Reserve -inspired recovery from over a one-week low and has now moved well within the striking distance of a six-month high, which, in turn, acts as a tailwind for the USD/CHF pair. The US central bank, as was anticipated, decided to leave the benchmark federal funds rate unchanged on Wednesday, though signalled one more rate hike by the end of this year. In fact, the so-called 'dot-plot' forecastedto peak at 5.5% to 5.
This reaffirms a higher-for-longer narrative and pushes the yield on the rate-sensitive two-year US government bond to a 17-year high. Furthermore, the benchmark 10-year yield has climbed to its highest since late 2007, which continues to boost the Greenback and assists the USD/CHF pair to prolong its strong upward trajectory witnessed over the past two months or so.
Later during the early North American session, the US economic docket – featuring the usual Initial Weekly Jobless Claims, Philly
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