USD/CHF hovering around 0.9370 ahead of FOMC minutes

FXStreet (Córdoba) - USD/CHF is trading flat on Wednesday, consolidating around 0.9370 as traders await the release of the Federal Reserve minutes.

USD/CHF unable to rally above 0.9400

The pair peaked at 0.9405, the highest level since May 5 but then pulled back and retreated, finding support at 0.9350. Greenback moved all day sideways against the Swiss franc, without being able to rally above 0.9400.

Traders will look into signals about the date of Fed liftoff in the minutes. If the document shows open doors for a rate hike in June, USD/CHF could rally above 0.9400; while a hawkish tone could trigger a correction in the pair that rose more than 300 pips from last week lows.