US Treasury Secretary Janet Yellen is expected to hold a meeting with the Securities Exchange Commission (SEC), the Federal Reserve (Fed), the New York Fed and the Commodity Futures Trading Commission this week, citing sources familiar with the matter.

Earlier on Wednesday, Yellen said that the Congressional Budget Office (CBO) forecast portrays a desperate need for aid package. It will be years before the US reaches full employment again based, she added.

Asian shares and U.S. stock futures rose on Wednesday as governments around the world looked poised to boost spending to help economies recover from the coronavirus and vaccine roll-out programmes accelerated.

Adding to it, Wall Street rallied on Tuesday on renewed hopes for U.S. President Joe Biden’ proposed $1.9 trillion COVID-19 aid bill as the Senate took certain steps to allow Democrats to pass Biden’s package without Republican support.

Elsewhere, the Biden administration said it would increase the weekly supply of shots nationwide and start shipping coronavirus vaccines directly to retail pharmacies in addition to ongoing deliveries to states. Sentiment was also bolstered by higher-than-expected earnings from tech giants Alphabet Inc GOOG.O and Amazon.com Inc AMZN.O, which overshadowed the retail trading frenzy that roiled markets last week.

The party for the Reddit-inspired trading frenzy that pushed GameStop’s stock up five-fold in five days last week appeared over as its shares plunged 60% in heavy trade to close at $90.00, less than one-fifth of an all-time peak on Friday.

USD/CHF 4 Hour Chart:

Support: 0.8949 (S1), 0.8924 (S2), 0.8901 (S3).

Resistance: 0.8997 (R1), 0.9020 (R2), 0.9045 (R3).

Amidst all the catalysts favoring greenback against CHF, we expect a bullish trend for USD/CHF.