Market Updates – Lower Rates Remain on the Table, SNB’s Jordan

Swiss Franc has weakened and the USD/CHF surged from 0.9985 to 1.0010. The technical indicators...


As per the recent report, President Thomas Jordan said The Swiss National Bank could diminish its previously ultra-low interest rates if the circumstances warrant this.

With a deposit rate of -0.75%, the SNB has previously established the lowest interest rate of any main central bank. That tool is intended to take pressure off the Swiss Franc, which is marked as a safe haven at times of market uncertainty.

Consequently, the Swiss Franc has weakened and the USD/CHF surged from 0.9985 to 1.0010. The technical indicators, especially the 50-periods moving average, is suggesting a buying trend. Support prevails around 0.9985 along with resistance around 1.0030 and 1.0040.

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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