On Friday morning, the Asian market opened at 0.8880 USD/CHF. The safe-haven Swiss franc appreciates as market mood turns risk-off. The USD/CHF exchange rate is under pressure since the Swiss National Bank (SNB) has promised to safeguard the CHF via market purchases.

SNB Chairman Thomas Jordan’s hawkish comments, in which he did not rule out further interest rate hikes, boosted the Swiss franc.
The US Dollar Index (DXY) is currently around 104.30 due to declining US Treasury yields. Rates on 2-year and 10-year Treasury notes are currently 4.84% and 4.44%, respectively.

In addition, the USD’s resilience is typically unaffected by weak economic statistics from the US. The number of Americans filing new claims for unemployment benefits in the week ending November 3 increased to 1.865% from 1.833%. Continuing jobless claims were 231,000 for the week ended November 10, exceeding forecasts of 220,000.

As pointed out by Cleveland Fed President Loretta Mester, the fact that the Federal Reserve (Fed) is resistant to rate decreases demonstrates how data-driven its decisions are.

Investors may be interested in economic indicators like the Swiss Industrial Production and the US Housing Data due Friday. Market mood and USD/CHF trading decisions are expected to be impacted by these data, which will provide insight into the economies of both countries.