The USD/CHF pair extends the decline around 0.9020 during the early European trading hours on Monday.
USD/CHF weakens to 0.9020 in Monday’s early European session. Traders raised their bets on the Fed rate in September after the recent US PCE data for April. The Swiss Real Retail Sales rose to 2.7% YoY in April, compared to -0.2% in March. The softer US dollar after the US Personal Consumption Expenditures Price Index inflation data drags the pair lower. Switzerland’s Consumer Price Index for May will be the highlight on Tuesday ahead of the US employment data.
In case of a stronger-than-expected outcome, this might dampen the expectation of the Federal Reserve rate cut this year and cap the downside for the Greenback. On Friday, the Swiss Real Retail Sales improved to 2.7% YoY in April from a decline of 0.2% in March. The figure came in better than the estimation and supported the Swiss Franc against its rivals. Apart from this, investors will closely watch the development surrounding Middle East geopolitical tensions.
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