The USD/CHF pair faces a sharp sell-off near the round-level resistance of 0.9100 as the United States Institute of Supply Management (ISM) has reported weak Services PMI data for March.
USD/CHF faces selling pressure near 0.9100 as US Dollar drops on weak ISM Services PMI data. Fed’s hawkish guidance has dented Fed rate cut expectations for June. Swiss weak Retail Sales boost speculation for more rate cuts by the SNB. The USD/CHF pair faces a sharp sell-off near the round-level resistance of 0.9100 as the United States Institute of Supply Management has reported weak Services PMI data for March.
Market prospects for the Fed pivoting to rate cuts have eased due to hawkish guidance from Fed policymakers. Atlanta Fed Bank President Raphael Bostic told CNBC that he sees the central bank reducing interest rates only once this year as the economy is maintaining strong momentum. This week, investors will keenly focus on the US Nonfarm Payrolls data for March, which will be published on Friday.
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