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Swiss Franc Climbs On Recession Concerns

RTTNews | 1057 दिनों पहले

Swiss Franc Climbs On Recession Concerns

(RTTNews) - The Swiss franc advanced against its major rivals in the European session on Friday, on growing concerns about a recession fuelled by aggressive rate hikes from the Federal Reserve to tame inflation.

Powell said that the Fed's commitment to curbing inflation was "unconditional," intensifying worries about the possibility of a recession.

Commodity prices dropped on growing concerns over a global economic downturn.

In his Congressional testimony on Thursday, Powell acknowledged that the Fed's monetary policy tightening may push up unemployment.

There are no precision tools and the possibility of unemployment moving up has risen, Powell added.

The franc rebounded to 140.96 against the yen, from a low of 139.87 seen at 4 am ET. On the upside, 141.00 is possibly seen as its next resistance level.

The franc edged up to 0.9578 against the dollar and 1.1757 against the pound, from its early lows of 0.9632 and 1.1805, respectively. The currency is likely to locate resistance around 0.92 against the dollar and 1.16 against the pound.

The franc recovered slightly to 1.0100 against the euro, after falling to 1.0139 at 4:20 am ET. If the franc rises further, 0.99 is possibly seen as its next resistance level.

Looking ahead, U.S. new home sales for May and University of Michigan's final consumer sentiment index for June are due in the New York session.

टैग: GBPCHF USDCHF EURCHF CHFJPY

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Yen Rises Amid Risk-off Mood, BoJ Rate Hike Bets

Yen Rises Amid Risk-off Mood, BoJ Rate Hike Bets

The Japanese yen strengthened against other major currencies in the Asian session on Friday amid risk-off mood, as traders digested the latest settlements on the trade tariff front and remained caution as they awaited more clarity on the developments in trade negotiations with other trade partners.

RTTNews | 6घंटे 4 मिनट पहले

Yen Rises Against Majors

Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the Asian session on Friday.

RTTNews | 7घंटे 55 मिनट पहले

Euro Drops Against Majors

Euro Drops Against Majors

The euro weakened against its major counterparts in the New York session on Thursday.

RTTNews | 19घंटे 22 मिनट पहले

Commodity Currencies Slide, Yen Rises Amid Cautious Trade

Commodity Currencies Slide, Yen Rises Amid Cautious Trade

The commodity currencies such as Australia, the New Zealand and the Canadian dollars weakened against their major currencies in the Asian session on Thursday, as traders remain cautious amid continued uncertainty surrounding U.S. President Donald Trump's trade policies, despite reaching trade deals between the U.S. and China as well as the U.S. and the U.K.

RTTNews | 1 दिन पहले

Yen Rises Against Majors

Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the Asian session on Thursday.

RTTNews | 1 दिन पहले

Swiss Franc Weakens Against Majors

Swiss Franc Weakens Against Majors

The Swiss franc fell against its major counterparts in the New York session on Wednesday. The franc edged down to 1.1182 against the pound and 0.8436 against the greenback, from an early high of 1.1117 and a 5-day high of 0.8324, respectively.

RTTNews | 1 दिन पहले

Yen Rises Against Majors

Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the European session on Wednesday.

RTTNews | 2 दिनों पहले

U.S. Dollar Extends Slide On Soft Inflation Data

U.S. Dollar Extends Slide On Soft Inflation Data

The U.S. dollar extended its early weakness against other major currencies in the Asian session on Wednesday, as inflation slowed more than expected in April, raising hopes of further easing by the Federal Reserve.

RTTNews | 2 दिनों पहले

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