USD/CHF: US Dollar Trading Higher This Morning

USD/CHF: US Dollar Trading Higher This Morning

For the 24 hours to 23:00 GMT, the USD declined 1.31% against the CHF and closed at 0.9142.

In the US, the Federal Reserve Bank of Minneapolis President, Narayana Kocherlakota stated that, the central bank’s current monetary policy is too tight and might not be enough given the outlook for prices and the job market. He indicated that the US economy would continue to expand slowly over the next two years. He said, “Inflation will run below the Fed’s target of 2.0% over the next two years and the unemployment rate will remain elevated”.

In the Asian session, at GMT0400, the pair is trading at 0.9155, with the USD trading 0.15% higher from yesterday’s close.

The pair is expected to find support at 0.9099, and a fall through could take it to the next support level of 0.9043. The pair is expected to find its first resistance at 0.9239, and a rise through could take it to the next resistance level of 0.9323.

Later today, the Swiss consumer price index data is expected to impact trading trends in the pair.