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USD/CHF drifts higher to around 0.9060 in Friday’s early European session, adding 0.17% on the day.  Investors brace for the US January employment report, which is due later on Friday.  Escalating Middle East geopolitical tensions could boost the safe-haven flows, benefiting the CHF.  The USD/CHF pair gains traction to near 0.9060 during the early European session on Friday. The renewed US Dollar (USD) demand provides some support to the pair. Later on Friday, the US employment data for January will take center stage.  Despite the hawkish hold, LSEG statistics showed that markets continue to expect 46.3 basis points (bps) of Federal Reserve (Fed) rate reductions by December, with a quarter-point cut fully priced for July. The US January labor market data will be the highlight later on Friday as it might offer some hint about a US interest rate outlook. The weaker NFP report could trigger dovish Fed expectations, undermining the Greenback. On the other hand, the upside surprise outcome could affirm the Fed’s hawkish tone and could lift the USD broadly.  The Middle East and Europe condemn Trump’s plans to take over Gaza. On Thursday, Trump said that Israel would hand over Gaza to the United States after the fighting was over and the enclave’s population was already resettled elsewhere, which he said meant no US troops would be needed on the ground. Investors will closely monitor the development of surrounding geopolitical risk in the Middle East. “What Trump is proposing is clearly catastrophic for Gaza, but it would also be destabilising for the countries in the region,” Hugh Lovatt, a researcher at the European Council on Foreign Relations (ECFR), tells Euronews. Any sign of escalating tensions could boost the safe-haven currency like the Swiss Franc (CHF). Swiss Franc FAQs The Swiss Franc (CHF) is Switzerland’s official currency. It…

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Filed under: News - @ February 7, 2025 6:21 am