U.S. Fed chair Jerome Powell faces lawmakers in two days of testimony and is likely to be questioned on whether rates will really rise again in July and peak in a 5.5%-5.75% range as projected.
"Investors fear Powell will hint that rate hikes could resume next month after the hawkish pause at last week's FOMC meeting," DBS analysts said in a note.
Around 80% of investors have priced in a quarter-point Fed rate hike in July, with rate cuts being seen at the end of the year or early next year, according to the CME Fedwatch tool.
GBPCHF
BUY 1.143 - 1.144
✅𝖳𝖯1 1.157
✅𝖳𝖯2 1.163
✅TP3 1.170
🛑𝖲𝖫 1.137
"Investors fear Powell will hint that rate hikes could resume next month after the hawkish pause at last week's FOMC meeting," DBS analysts said in a note.
Around 80% of investors have priced in a quarter-point Fed rate hike in July, with rate cuts being seen at the end of the year or early next year, according to the CME Fedwatch tool.
GBPCHF
BUY 1.143 - 1.144 ✅𝖳𝖯1 1.157
✅𝖳𝖯2 1.163
✅TP3 1.170
🛑𝖲𝖫 1.137
