The USD/CHF pair trades on a weaker note near 0.9145 during the early European session on Thursday.
USD/CHF drifts lower to 0.9145 on the softer US Dollar on Thursday. The hawkish tone of the US Fed has lifted the USD, creating a tailwind for the pair. Switzerland’s ZEW Survey Expectations rose to 17.6 in April, compared to 11.5 prior. Traders seem to prefer to wait on the sidelinesahead ofthe release of the US preliminary Gross Domestic Product Annualized for the first quarter later in the day.
In casethe report shows stronger-than-expected data, this might trigger speculation that the US Fed will delay the rate cut cycle, which might liftthe US Dollar . On Wednesday, datareleasedfromtheCentre for European Economic Research showed that Switzerland’s ZEW Survey Expectations improved to 17.6 in April compared to 11.5 in the previous reading.
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