USD/CHF gained ground as FOMC left its benchmark lending rate in the range of 5.25%–5.50% on Wednesday.
Powell stated, “We don’t see ourselves as having the confidence that would warrant policy loosening at this time.”
Swiss Franc may see limited downside as SNB is unlikely to implement a rate cut in June.
USD/CHF retraces its losses from the previous session after the hawkish hold from the US Federal Reserve (Fed). The Federal Open Market Committee (FOMC) left its benchmark lending rate in the range of 5.25%–5.50% for the seventh consecutive time in its policy meeting on Wednesday, as widely anticipated. The pair edges higher to near 0.8950 during the Asian session on Thursday.
However, the Greenback faced challenges after the release of the softer inflation

USD/CHF hovers below 0.9152, the highest since October reached on Monday.
US Dollar strengthened as higher Retail Sales amplified expectations of the Fed prolonging higher policy rates.
Swiss Franc faces challenges due to the likelihood of SNB implementing another rate cut in the June meeting.
USD/CHF recovers its recent losses registered in the previous session, trading near 0.9120 during the early European hours on Tuesday. The strength of the US Dollar (USD) provides support to bolster the USD/CHF pair. This strength is fueled by better-than-expected Retail Sales figures from the United States (US), which have increased expectations that the Federal Reserve (Fed) might maintain higher interest rates for an extended period.
Moreover, the US Dollar Index (DXY)