Pair bottomed at a low of 0.8375 and then recovered above 0.8400 but holds daily losses.
US August NFPs came in lower than expected, following this weak labor market data trend.
Investors might bet on a bigger cut in September from the Fed.
On Friday, the USD/CHF fell to a daily low of 0.8375 and then recovered back above 0.8400. The upside, however, is limited as the US reported weak labor market figures.

The US Dollar’s appeal diminished after the release of a lower-than-expected NFP report for August, which showed the creation of 142,000 new jobs, falling short of the 160,000 forecast but surpassing July’s revised figure of 89,000. The Unemployment Rate decreased as anticipated, moving from 4.3% to 4.2%. Additionally, Average Hourly Earnings increased by 3.8%

In Friday’s session, the USD/CHF recovered surging above the 0.8965 mark. Strong Nonfarm Payroll data from the US propelled the USD across the board. US Treasury yields increased while the odds of a cut in September by the Fed slightly declined.

USD/CHF took a dip in Tuesday’s session and fell to 0.9110. Despite the Consumer Confidence index in the US and Housing prices exceeding expectations, the USD remains weak. The Federal Reserve maintains a cautious stance, asking the market for patience, which keeps the odds for rate cuts in June or July low.