More SNB Vice Chair Martin: No plans to use negative interest rates at the moment

October 10, 2024
-FCHFX

October 10, 2024 at 05:17PM
More from SNB Martin:

No plans to use negative interest rates at the moment

There are imaginable scenarios where we could take rates negative, but this is not a situation being considered at present

The SNB does not have a balance sheet objective by itself

The USDCHF moved outside of the trading range where most of the price action took place between 0.8400 and 0.85368 on Friday after the strong than expected US jobs report. On Monday and Tuesday, the price moved below the high of that swing area briefly, but rotated higher and in trading today traded to the highest level since August 20. The price this morning has rotated back to the downside.

Support will remain near 0.85368. Move and stay below that level would probably not be good from a technical perspective.

This article was written by Greg Michalowski at www.forexlive.com.

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