Post #15476

USD/CHF: Fed Tone Softens and SNB Stays Firm USD/CHF continues its slide — down roughly 1.4% from pre-FOMC levels. Key support sits at 0.7900, while 0.8100 remains the immediate resistance. Big picture: the pair is still trading inside a broad range, with no confirmed breakout yet. For the US: The Fed delivered a widely expected 25bps cut, but the market spent more time reacting to the messaging. A less hawkish cut, limited dissent, and a 2026 rate-cut projection weighed on the dollar. Fed liquidity operations — including upcoming short-dated Treasury purchases — added further pressure to USD. On the Swiss Side: The SNB held rates at 0% and emphasized an improving outlook, supported by a U.S. tariff-reduction deal. Softer-than-expected inflation hasn’t pushed them into easing mode, helping CHF firm up and extend USD/CHF downside. - Alan