The USD/CHF remains in a narrowing range ahead of Friday’s US NFP release, with risk building for a bearish breakout. Meanwhile, signs of stabilization in Swiss data, manufacturing PMI at 49.0, and services PMI rebounding from a five-year low, suggest the SNB’s aggressive rate-cut cycle may be ending. With yield spreads between US Treasuries and Swiss bonds narrowing, downside pressure on USD/CHF is likely to persist.
04-09-2025 06:19 GMT
by Kelvin Wong