Swiss Franc Advances Against Majors
February 19 2024 - 5:16AM
RTTF2
The Swiss franc climbed against its most major counterparts in
the European session on Monday, as fading chances for early
interest rate cuts from the Federal Reserve dampened investor
sentiment.
U.S. consumer and producer inflation came in stronger than
expected in January, prompting investors to scale back their
expectations for rate cuts this year.
The minutes from the Federal Reserve's January policy meeting
will be published on Wednesday.
No major data releases are scheduled from the U.S.
U.S. markets are closed in observance of the Presidents' Day
holiday.
The franc rebounded to 1.1098 against the pound and 0.9484
against the euro, off its early 4-day lows of 1.1128 and 0.9505,
respectively. The franc may find resistance around 1.09 against the
pound and 0.93 against the euro.
The franc recovered to 0.8799 against the greenback during
European deals. It is likely to locate resistance around the 0.86
level.
In contrast, the franc eased against the yen and was trading at
170.10. This may be compared to a previous 4-day low of 170.05. The
franc is seen finding support around the 167.00 level.
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