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The US dollar has maintained its weak performance on Friday despite the positive Nonfarm Payrolls data. The USD/CHF pair hit a daily high following the key data.
The USD/CHF is trimming some of its earlier losses and prior gains in the US volatile trading session, spurred by a buoyant US Nonfarm Payrolls report for November.
It is worth mentioning that the key data released on Friday increased the likelihood that the US Fed will keep increasing borrowing costs.
Manufacturing activity slowing reignited recession fears in the US economy. Therefore, the USD/CHF fluctuates around 0.9370s at the time of writing.
Friday’s session witnessed the USD/CHF rallying to its daily high of 0.9439 once the NFP headline crossed newswires. However, it was used by Swiss Franc (CHF) buyers to open fresh short positions on the USD/CHF, as shown by the major erasing its earlier gains, hoovering back below the psychological 0.9400.
