Global macro overview for 18/09/2015:
Besides yesterday's Fed's rate decision, important economic news on the Swiss Libor Rate and 3-Month Libor Target Range was published. The market expectations were in line with the data as none of the figures was changed: libor rate is still at the level of -0.75% and libor target range is between -0.25% and-1.25%. Moreover, SNB's Jordan in his statement said the Swiss franc is still overvalued and current situation will have an negative effect on the foreseeable future as the Swiss economy is still in difficult situation.
The EUR/CHF pair negatively responded to the release. After reversal from the level of 1.1050, it got back into the congestion area. Currently, EUR/CHF is trading at the local support level of 1.0950.
