The USD/CHF currency pair was holding near a fresh one-week high of 0.9094 on Thursday, extending recent gains, after the Federal Reserve left borrowing costs on hold, in line with market consensus.
Still, the US central bank provided scant clues regarding further rate cuts this year.
The Fed kept its federal funds rate target range without change at 4.25%-4.50% at its January meeting, pausing its monetary easing cycle after three rate cuts in a row in 2024.
Policy makers said they would wait for further inflation and employment data and clarity on the impact of the Trump administration’s policies.
Fed Chair Jerome Powell said during his press conference that it was too early to say what the result of Trump’s policies would be, while the Fed’s 2% inflation target would remain in place.
In terms of macro data, the US preliminary GDP growth report for Q4 is now on traders’ radar.
Meanwhile, the latest data out of Switzerland showed the country’s trade surplus had narrowed to CHF 4.3 billion in December from a revised up CHF 4.6 billion surplus in November.
The USD/CHF currency pair was last up 0.18% on the day to trade at 0.9082.
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