GBPCHF uptrend is very nice and good
U.S. Fed chair Jerome Powell faces lawmakers in two days of testimony and is likely to be questioned on whether rates will really rise again in July and peak in a 5.5%-5.75% range as projected.
"Investors fear Powell will hint that rate hikes could resume next month after the hawkish pause at last week's FOMC meeting," DBS analysts said in a note.
Around 80% of investors have priced in a quarter-point Fed rate hike in July, with rate cuts being seen at the end of the year or early next year, according to the CME Fedwatch tool.
GBPCHF BUY 1.143 - 1.144
✅𝖳𝖯1 1.157
✅𝖳𝖯2 1.163
✅TP3 1.170
🛑𝖲𝖫 1.137
"Investors fear Powell will hint that rate hikes could resume next month after the hawkish pause at last week's FOMC meeting," DBS analysts said in a note.
Around 80% of investors have priced in a quarter-point Fed rate hike in July, with rate cuts being seen at the end of the year or early next year, according to the CME Fedwatch tool.
GBPCHF BUY 1.143 - 1.144✅𝖳𝖯1 1.157
✅𝖳𝖯2 1.163
✅TP3 1.170
🛑𝖲𝖫 1.137
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