USD/CHF edging higher this morning following a technically positive close last night

The previous update noted how the USD/JPY had failed to set a technically positive close last night. This update looks at the USD/CHF, which did manage to do that. As covered here yesterday afternoon, the USD/CHF did punch above its 200 day moving average and unlike the USD/JPY, it did set a daily close above its 200 day moving average, which by the time of the US close had shifted to 0.8822. It is back to 0.8823 today though and the USD/CHF closed last night at 0.8828. The price action so far this morning has seen the dollar press a little higher, reaching 0.8839 not long ago. The prospect of the Swiss National Bank (SNB) lowering rates tomorrow (at 8.30am GMT) from 1% to 0.75% is the clear driver behind that technically positive close for the dollar. The question of; is it better to travel, than to arrive will only be answered once we see how the dollar reacts to an expected outcome. Of course that question will be easily answered, if the SNB fail to act tomorrow. The USD/CHF is trading right now at 0.8836