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USD / CHF: the pair fell sharply on two occasions _17/03/2016

Technical analysis and trading recommendations -

After yesterday's decision of the Federal Reserve the US dollar shows widespread decline across financial markets. As already known, US interest rates left unchanged at the same level within the range of 0.25% - 0.5%. The Fed also lowered the forecast of the future prospects of increasing cycle rates. Thus, the rate of the end of 2017 will amount to 1.875%, and the end of 2018 - 3%. Earlier it was planned that the key interest rate will be increased to 2.375% by the end of 2017 and to 3.25% by the end of 2018. This year is projected to increase two key interest rate to a level of 0.875% instead of 1.375% level previously planned.

Swiss National Bank today, as expected, did not change key interest rates. Today deposit rate was 0.75%, and the target range for the 3-month interest rate of LIBOR - in the range of -1.25% to -0.25%.

This gave the pair USD / CHF additional impetus to reduce begun yesterday on the background of the Fed decision. However, in February, it is still observed decrease in inflation in Switzerland. Thus, the index of producer prices and import prices in February fell by 0.6% compared with the previous month and by 4.6% compared to February of the previous year.

However, in Switzerland expect a gradual acceleration of economic growth, despite the high rate of national currency. If necessary, the central bank will continue to intervene in the currency market. GDP growth is expected in 2017 - by 1.8%.

However, when a pair of sales must be aware of possible SNB intervention with franc sales, of which he does not declare either before or after the conducted interference in the trading on the currency market.

Negative interest rates and possible intervention will reduce the upward pressure on the Swiss franc.

Thursday, 17 Mar, 2016 / 1:04

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