Swiss Franc Lower Ahead Of Central Bank Meetings
March 18 2024 - 6:10AM
RTTF2
The Swiss franc was lower against its major counterparts in the
European session on Monday, ahead of monetary policy meetings from
major central banks this week.
The Fed is widely expected to hold rates unchanged, but the
focus of the markets will be on the accompanying statement for
clues about the timing of interest rate cuts.
The Bank of Japan is expected to put an end to its extremely
dovish monetary policy at the end of a two-day policy meeting
concluding on Tuesday.
The RBA decision is due on Tuesday, and investors expect the
bank to leave rates unchanged.
The Swiss National Bank and the Bank of England are also
scheduled to make their monetary policy announcements this
week.
The franc touched 0.9639 against the euro, its lowest level
since November 29. The franc is seen finding support around the
0.98 level.
The franc eased to 1.1271 against the pound and 168.61 against
the yen, down from an early 5-day high of 1.1239 and nearly a
2-week high of 169.01, respectively. The currency may locate
support around 1.14 against the pound and 162.00 against the
yen.
The franc fell to 0.8850 against the greenback, from an early
high of 0.8821. If the currency falls further, it is likely to test
support around the 0.92 region.
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