30.04.2020 USD/CHF Daily Analysis

30.04.2020 USD/CHF Daily Analysis

USD/CHF 0.9719  ,-0.0016 , -0.16% The US dollar keeps going low and the USD/CHF pair is trading at 0.9719  and the pair is pulling below previous highs of 0.9750 after the Fed released its monetary policy statement. The market has reacted selling the US dollar after  Federal Reserve’s made a decision of dropping its benchmark interest rate to zero to maintain and support the U.S economy after the US GDP report was released on Wednesday which showed that the economy contracted   4.8% during the first quarter of 2020. The US dollar remained depressed due to the optimism about the re-opening of economies in some parts of the world, Italy will be reopening their businesses on the 4th of May, Spain, France, Australia, and other European countries.