USD/CHF trades higher around 0.8000 on Thursday, up 0.20% for the day. The US Dollar (USD) finds support after the Federal Reserve (Fed) delivered a widely expected 25 basis-point rate cut to a range of 3.75%–4.00%, while signaling a slower pace of future easing.
The Australian Dollar dropped on Wednesday after the US Federal Reserve cut rates by 25 basis points but signaled that the December’s meeting remains open, after Powell said that a cut is far from a done deal. The AUD/USD trades at 0.6569, down 0.25%.
EUR/USD slid on Wednesday over 0.43% as the Federal Reserve delivered a “hawkish cut” after Fed Chair Jerome Powell said that “rate cut in December is far from foregone conclusion.” At the time of writing, the pair trades near weekly lows of 1.1601 with traders eyeing monthly lows of 1.1542.