02.07.2020 USD/CHF Daily Analysis

02.07.2020 USD/CHF Daily Analysis

USD/CHF drops to over 1-week lows, farther below mid-0.9400s USD/CHF remained under some selling pressure for the third consecutive session on Thursday. The USD/CHF pair weakened farther below mid-0.9400s and dropped to over one-week lows during the early European session on Thursday. The US dollar selling remained unabated through the first half of Thursday trading action instead was seen further fueled by some follow-through. The downfall in the US Treasury bond yields. This, in turn, was seen as one of the key factors exerting pressure on the USD/CHF pair. The headline NFP is expected to show that the US economy added 3 million jobs in June and the unemployment rate is anticipated to have edged lower to 12.3% from 13.3% previous. A surprisingly stronger-than-expected report might provide some respite to the USD bulls, albeit seems unlikely to be a major game- changer amid concerns about the ever-increasing number of coronavirus cases across the world.