USD/CHF extends its gains for the second day, trading around 0.9080 during the early European hours on Friday.
USD/CHF continues to advance after the release of lower Swiss production data on Friday. Swiss Industrial Production declined by 3.1% in Q1, marking the second consecutive quarter of declining industrial activity. The US Dollar appreciates Fed officials suggestingprolonging higher rates as pricing pressure persists in the US economy. The Swiss Franc depreciated against the US Dollar after the release of the lower Industrial Production released by Swiss Statistics.
Reuters reports on Thursday, Atlanta Fed President Raphael Bostic said at an event in Jacksonville that the need for patience with interest rates, noting that substantial pricing pressure persists in the US economy. Additionally, Cleveland Fed President Loretta Mester indicated that it might take longer than anticipated to confidently ascertain the inflation trajectory, suggesting that the Fed should maintain its restrictive stance for an extended period.
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