The Swiss National Bank (SNB) is in focus as chatter about potential FX intervention grows. Traders are keeping a close eye on the USD/CHF pair as it eyes a breakout from its current range.
The SNB has a history of intervening in the foreign exchange market to influence the value of the Swiss franc. This can impact the USD/CHF pair, as the Swiss franc is often seen as a safe haven currency.
Traders will be watching closely for any signs of intervention from the SNB, as this could lead to increased volatility in the currency markets. A breakout in the USD/CHF pair could signal a shift in market sentiment towards the Swiss franc.
Overall, traders should be prepared for potential volatility in the USD/CHF pair as the SNB’s actions could impact the currency markets in the near future.