The USD/CHF pair is slightly positive in Friday’s Asian session but trades close to its crucial support of 0.8883.
USD/CHF trades cautiously with a focus on the US NFP . Easing US labor market strength has prompted Fed rate-cut prospects. The expectations of the SNB intervening in currency markets remain firm. The Swiss Franc asset remains under pressure in past few trading sessions as the US Dollar struggles to gain ground due to growing speculation that the Fed eral Reserve will start reducing interest rates from the September meeting.
Also, a higher number of individuals claiming jobless benefits for the first time for the week ending May 31 at 229K against their estimates of 220K and the prior release of 221K adds to doubts that the labor market strength is easing. In today’s session, the US NFP report will provide significant cues about the US labor market's health.
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