- USD/CHF posts mild gains in the Asian session.
- US dollar stays elevated despite disappointing Initial Jobless Claims data.
- Swiss Franc remains under pressure after SNB dovish outlook.
The buying pressure in the US dollar keeps USD/CHF higher in the Asian session on Friday morning. The pair touched the multi-month high in the previous session with more than 110 pips movement.
At the time of writing, USD/CHF is trading at 0.9178, up 0.06% for the day.
The US dollar index trades at 91.87 with 0.4% losses, after rising near the 92.00 level on Thursday. Investors digested the hawkish tone of the Fed and higher-than-expected inflation readings. The US Initial Jobless Claims rose to 412K for the first time in the past seven weeks and above the market expectations of 359K.
The US 10-year benchmark yields fell slightly toward 1.56% following the data. The US Dollar mirroring the movement in the bond market.
On the other hand, the Swiss Franc remained on the backfoot after the Swiss National Bank kept its ultra-loose monetary policy in place, despite raising its inflation forecast. The central bank said that the currency remained highly valued, the comments weighed on the franc’s valuations.
The divergence in the monetary policy stance between the two economies is expected to influence the pair’s performance in the near future.
USD/CHF additional levels
Share
