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18 Mar 2015
USD/CHF plummets to 0.9805 after FOMC
FXStreet (Córdoba) - The USD/CHF pair accelerated the decline after the release of the FOMC statement and dropped from 0.9925 to 0.9805, reaching the lowest level since March 6. The Swiss franc is having the best performance against the US dollar since the January 15, when the Swiss National Bank abandoned the EUR/CHF cap.
The Federal Reserve kept rates unchanged as expected, removed the word patience from the statement and said that a rate hike in April is unlikely. The US dollar dropped sharply across the board after the statement.
USD/CHF was trading considerably lower before Fed’s decision after brekina a 4-day trading range. Price extended the decline and rebounded near 0.9800 rising back toward 0.9850. Currently trades at 0.9844, down more than 2% for the day.
The Federal Reserve kept rates unchanged as expected, removed the word patience from the statement and said that a rate hike in April is unlikely. The US dollar dropped sharply across the board after the statement.
USD/CHF was trading considerably lower before Fed’s decision after brekina a 4-day trading range. Price extended the decline and rebounded near 0.9800 rising back toward 0.9850. Currently trades at 0.9844, down more than 2% for the day.