Ella 
USD/CHF fell for the fifth consecutive day, trading around 0.8661 in Asia on Friday. USD/CHF pared some intraday losses on Thursday after falling to a five-month low of 0.8630. The Swiss National Bank (SNB) chose to keep its key policy rate at 1.75% on Thursday, citing a clear downward trend in domestic inflation.
In addition, Swiss National Bank Chairman Thomas Jordan also emphasized that although Swiss domestic inflation has remained within the 0-2% target range for the past six months as of November, the Swiss National Bank is ready to tighten if deemed necessary. Monetary Policy.
The U.S. dollar index (DXY) hit a four-month low of 101.77 on Thursday and was trading around 101.90 at press time. The U.S. bond prices rebounded as the Federal Reserve maintained a dovish outlook on the path of interest rates. As a result, U.S. bond yields fell, putting downward pressure on the dollar.
Positive economic data such as U.S. retail sales growing at a monthly rate of 0.3% in November (stronger than expected -0.1%) and the number of Americans filing initial jobless claims at 202,000 (lower than expected at 220,000) failed to ignite the momentum for a stronger dollar.
Market focus will likely turn to Friday’s S&P Global Purchasing Managers Index (PMI) data to seek more insight into the state of the U.S. economy, further driving market volatility.
