USD/CHF trades with mild gains around 0.8790, tallying a third consecutive day of gains.
The USD trades flat as investors await clues for the next Fed decisions in the FOMC minutes.
Housing data from the US came in strong.
The USD/CHF pair trades flat on Wednesday with mild gains near the 0.8790 area. On the USD side, strong Building Permits and Housing starts from July failed to trigger a reaction in the Greenback as markets are focused on the Federal Open Market Committee (FOMC) minutes from the July meeting, to be released later in the session.
As the US economy is holding strong and inflation is decelerating, investors want to see the FOMC member's stance regarding the following decisions. Jerome Powell stated that the decision will depend on incoming data so the recent data points out that the Federal Reserve (Fed) will probability hike on more time this cycle. In line with that, the odds of a 25 basis point hike in the next November meeting rose nearly to 40% according to the World Interest Rate Possibilities (WIRP) tool
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