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The USD/CHF pair is wavering in an 11-pip range as investors await the important NFP data in the US. Estimated 200k for the NFP could even drag the asset lower. The Dollar Index failed to capitalize on a wave of hawkish commentary from several Fed policymakers.
The USD/CHF pair is displaying back and forth moves in a narrow range of 0.9543-0.9554 in the early Tokyo session. The asset has turned lackluster as investors are focusing on the release of the US Nonfarm Payrolls. On Thursday, the pair witnessed a steep fall after surrendering the crucial support of 0.9600 and printed a low of 0.9543.
Economists at JP Morgan predict the US Nonfarm Payrolls (NFP) to come in weaker at 200K in July’s labour market report. In the month of June, the US economy added 372k jobs in the labor market. Rising interest rates and their multiplier effects have trimmed the job opportunities in the market. Well, the Unemployment Rate is seen unchanged at 3.6%.
On the Swiss franc front, the inflation rate has remained in line with the prior release of 3.5%. However, investors were expecting an improvement to 3.5%.
