Anna 
During the early European hours, the USD/CHF pair remains steady around 0.9060, benefiting from an upward correction in the US Dollar (USD). However, the Greenback could encounter resistance due to investor optimism following softer US labor data last Friday, reigniting speculation about potential interest rate cuts by the Federal Reserve (Fed) in 2024.
The US Dollar Index (DXY), reflecting USD performance against major currencies, is trading higher around 105.20. Nonetheless, gains in the USD are tempered by weaker US Treasury yields. At present, the 2-year and 10-year US Treasury bond yields stand at 4.80% and 4.45%, respectively.
On the Swiss side, the non-seasonally adjusted Unemployment Rate (MoM) for April decreased slightly to 2.3% from the previous 2.4%, with 1,636 fewer unemployed individuals compared to the previous month, totaling 106,957. When adjusted for seasonal factors, the jobless rate remained stable at 2.3% in April.
According to Reuters, Swiss National Bank (SNB) Chairman Thomas Jordan discussed the exploration of optimal methods for digitally tokenizing financial assets to enhance payment security and efficiency during an event in Basel on Monday. Jordan refrained from providing insights into economic and monetary policy during his address.
