4 Global Market Updates- 15 December, 2022

 

In this article, we have covered the highlights of global market news about the USD/CHF, EUR/GBP, USD/CAD and NZD/USD.

USD/CHF rises away from multi-month lows, testing 0.9300 post-SNB.

On Thursday, the USD/CHF pair makes a good intraday comeback from the 0.9220 regions and ends a two-day losing run to an eight-month low set the day before. After the Swiss National Bank (SNB) issued its policy decision, intraday buying increased, and spot prices rose to the 0.9300 level in the early hours of the European session.

Following its December policy meeting, the SNB increased interest rates by 50 basis points, as was generally expected. This was the third straight rate hike in as many meetings, resulting in a total lift-off of 175 bps in 2022. However, the Swiss Franc lost a little strength when the central bank reaffirmed that it would continue participating in foreign currency markets as needed. The USD/CHF pair benefits from this, as well as a little increase in the value of the US Dollar.

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