30 Apr 2014
USD/CHF steady around 0.8800 after FED
FXStreet (Córdoba) - The USD/CHF is hovering around 0.8800, down 0.35% for the day, unaffected by the FOMC decision; it continues to trade in a range with support at 0.8795 and resistance below 0.8810.
The Federal Reserve announced, as expected, another cut in the bond purchase program and held interest rates at 0.00% - 0.25%. The reaction across financial markets was limited.
Earlier the USD/CHF rose to 0.8850 but then bounced sharply and tumbled toward 0.8800, erasing yesterday’s gains as the US dollar weakened. Price bottomed at 0.8791, above Tuesday’s lows.
The Federal Reserve announced, as expected, another cut in the bond purchase program and held interest rates at 0.00% - 0.25%. The reaction across financial markets was limited.
Earlier the USD/CHF rose to 0.8850 but then bounced sharply and tumbled toward 0.8800, erasing yesterday’s gains as the US dollar weakened. Price bottomed at 0.8791, above Tuesday’s lows.