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USD/CHF edges to a session high at 0.8816 as SNB awaits this week

I do not usually cover the Swiss Franc in much detail here, but seeing as we have the SNB (Swiss National Bank) policy meeting alongside those from the Fed, BOE and ECB this week, it is worth a mention  on this occasion. That meeting will take place on Thursday and the outcome is due at 8.30am GMT that day. Most recently the USD/CHF has been under pressure, falling from a high set on October 3, at 0.9244, to a low set last week at 0.8667. However, since December 4 it has been on the rebound and that rebound reached 0.8821 on Friday. The USD/CHF later closed on Friday at 0.8799. It has pressed a little higher today and just now reached a session high at 0.8816. The question this week; is will the SNB adjust their current 1.75% OCR? The consensus is that they will not and that expectation has helped to lift the USD/CHF since last week, but of course there is the dollar to factor into the equation too and tomorrow the US CPI report may stand in the way of whatever the SNB might choose to deliver. Let us not forget the Fed on Wednesday evening too. The USD/CHF has just backed off from 0.8816 as it tries to re-establish itself above the 21 day moving average (now at 0.8814). It is currently trading at 0.8809

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