We err, and err, and err again, but less.
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USD/CHF Reaffirms Support Post-FOMC
A strong rejection of support places a clear line in the sand for bulls, who appear set to target the December 2016 highs. As Matt Weller noted in our FOMC recap the Fed left policy mostly unchanged (bar a 0.05% reduction of the IOER rate) yet remain concerned over price pressures. However, markets were positioned for a more dovish meeting, so short-covering ensued whilst rate-cut expectations were lowered. So we may well have seen the end of the dollar’s correction after retracing from near- 2-year highs over the past week. We outlined our expectation for EUR/USD to retrace from its 22-month lows on Friday and, ... (full story)
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IF,BUT,MAYBE,WHEN IT GETS TO, WAITING FOR