Ella 
USD/CHF fell for the fourth consecutive day, falling to around 0.8980 in early European trading on Monday. The pair faces challenges as the dollar weakens following a disappointing batch of U.S. economic data.
U.S. non-farm payroll data could put downward pressure on the dollar as slowing growth in the U.S. job market could convince the Federal Reserve to end monetary tightening. The report showed that the non-agricultural population increased by 150,000 in October, compared with the previous value of 297,000.
In addition, the U.S. unemployment rate rose to 3.9% in October, and market expectations were stable at 3.8%. The cooling in job market data can be attributed to the Federal Reserve’s efforts to address inflationary pressures by raising interest rates.
The dollar extended its losses and is trading below 105.00. Due to poor U.S. employment data, the decline in U.S. Treasury yields triggered a decline in the U.S. dollar, with the 10-year U.S. Treasury yield currently at 4.59%.
On the other hand, the Swiss franc may continue to face challenges against the US dollar, especially if Swiss CPI continues to be below the 2% inflation target. Swiss CPI annual rate is at 1.7%, in line with estimates and previous values. Monthly CPI increased slightly by 0.1%, in line with expectations.
Investors will focus on Switzerland’s seasonally adjusted unemployment rate due on Tuesday. In addition, the United States will release the preliminary value of the University of Michigan Consumer Confidence Index this Friday.
