USD/CHF moves sideways after two days of minor gains, bidding near 0.8840 during the Asian hours on Friday. The US Dollar (USD) receives downward pressure as the market participants put their bets on the likelihood of no additional interest rate hikes by the Federal Reserve (Fed), potentially weakening the USD/CHF pair.The Swiss Franc (CHF) could face downward pressure following the announcement from the Swiss National Bank (SNB) that the central bank’s currency reserves have reached a seven-year low of CHF 657 billion. This signals the ongoing efforts by the SNB to repatriate its foreign currency reserves, with a gradual reduction from the peak of CHF 950 billion in 2022.The US Dollar Index (DXY), which measures the performance of the US Dollar (USD) against the six other major currencies, consolidates around 103.70, carrying a negative sentiment in anticipation of Friday’s release of the US S&P Global PMI data. There’s an expected slight decline in the Services sector from 50.6 to 50.4 and in the Manufacturing sector from 50.0 to 49.8. Investors will closely scrutinize these figures for insights into the performance of key sectors in the US economy.US Treasury yields have shown improvement during the Asian session on Friday after the Thanksgiving holiday in the United States (US), attempting to push the Greenback into positive territory. At the time of writing, the yields on US 10-year and 2-year bond coupons hold on to 4.46% and 4.94%, respectively.USD/CHF: ADDITIONAL IMPORTANT LEVELS
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