USD/CHF hovers near 0.9140 during early European trading hours on Wednesday, maintaining its position close to the six-month high of 0.9152 reached on April 15.
USD/CHF remains bullish due to disparities in expected policy trajectories between the Fed and SNB . The Swiss Franc is under downward pressure as the SNB is anticipated to implement another rate cut in June. The US Dollar has rebounded, potentially driven by the higher 10-year yield on US Treasury bond. The Swiss Franc faces challenges due to the notable disparities in expected monetary policy trajectories between the US Fed eral Reserve and the Swiss National Bank .
The US Dollar Index , which measures the US Dollar against six major currencies, has rebounded due to a higher 10-year yield on US Treasury bonds, standing at 4.62%, up by 0.54% at the time of writing. However, disappointing US Purchasing Managers Index data is weighing on the Greenback, thereby limiting the advance of the USD/CHF pair. In April, the preliminary S&P Global Composite PMI for the US declined to 50.9 from the previous reading of 52.1.
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