USD/CHF hovers around 0.8880 during the Asian session on Friday. The Swiss Franc (CHF), being a safe-haven currency, is receiving upward support amid prevailing risk-off sentiment in the market. Additionally, the Swiss National Bank (SNB) has expressed its determination to defend the CHF through outright market purchases, adding to the pressure on the USD/CHF pair.SNB Chairman Thomas Jordan’s hawkish comments, where he does not rule out the possibility of more interest rate hikes in the future, further supporting and underpinning the strength of the Swiss Franc (CHF).US Dollar Index (DXY) hovers around 104.30, with downward pressure due to the decline in the US Treasury yields. The yields on the 10-year and 2-year Treasury notes stand at 4.44% and 4.84%, respectively.Moreover, the weaker US economic data seems to be ineffective to the USD’s resilience. US Continuing Jobless Claims for the week ending on November 3 increased to 1.865 million, compared to the previous reading of 1.833 million. Initial Jobless Claims for the week ending on November 10 rose to 231,000, exceeding the expected 220,000.The Federal Reserve’s (Fed) pushback against expectations of rate cuts, as highlighted by Cleveland Fed President Loretta Mester, underscores the data-dependent nature of the central bank’s decision-making.Looking ahead, investors are likely awaiting key economic indicators, including Swiss Industrial Production and US housing data on Friday. These releases are expected to offer valuable insights into the economic activities of both countries, influencing market sentiment and potentially impacting trading decisions in pairs like USD/CHF.USD/CHF: ADDITIONAL IMPORTANT LEVELS
More By This Author:AUD/USD Holds Above The Mid-0.6400s, Eyes On The US Housing Data USD/JPY Falls Back Towards 150.50, Pares Away Mid-Week Gains Oil Sinks Over 1% As PPI Confirms Slowdown In CPI
