Gold rolls over after retesting key resistance as the outlook for US interest rates remains elevated. This keeps the opportunity cost of holding non-yielding Gold high, making it less attractive to investors. Gold (XAU/USD) trades a quarter of a percent lower on Tuesday after being rejected by key support-turned-resistance at $2,315 late Monday. 

Gold price declines after the release of US Nonfarm Payrolls data for May, shows a higher-than-expected change in employment and wages.

Swiss Franc is vulnerable as inflation data continues to undershoot official forecasts. The SNB expected inflation to average 1.9% in 2024 in its December forecast, but it currently sits at 1.2%. 

EUR/CHF has rebounded from the 0.9254 December 2023 lows and rallied up to resistance from a key barrier in the form of the 50-week Simple Moving Average (SMA). The pair is probably still in a long-term downtrend despite recent strength. 

The Swiss Franc (CHF) edges lower against the US Dollar (USD) on Wednesday as traders continue to bet on a less-inflationary outlook for Switzerland, supporting a relatively low interest rate policy and dampening foreign capital inflows.