The US Dollar rally against the Swiss franc was capped at 0.7970 on Monday, and the pair retreated to levels right below 0.7945 as market sentiment deteriorated during the European Session, with all eyes on a slew of Fed speakers due later today.
Five Fed Governors are scheduled to give further details about the bank´s monetary policy plans. The main focus will be on the newest member, Stephen Miran, who is expected to delve into the reasons that prompted him to dissent from the committee and vote for a 50 basis points rate cut last week.
These speeches will frame the Chairman Powell's conference, due on Tuesday. The tone of Powell's press release contrasted with the bank's dovish projections and provided a fresh impulse to the US Dollar. Investors will be very attentive to his comments on Tuesday to corroborate their bets on back-to-back rate cuts.
In Switzerland, the main focus is on the SNB's monetary policy decision, due on Thursday. The bank is widely expected to leave its benchmark interest rate at 0%. The market will be eager to know the chances of cutting further into negative territory amid the recent weak macroeconomic data and the uncertainty around the trade relations with the US.
Source: Fxstreet
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