USD/CHF Surges to 0.9150 as Strong US Jobs Data Lifts Dollar

USD/CHF rallied sharply to 0.9150 after stronger-than-expected US Nonfarm Payrolls data on June 5. The move extended gains that began the prior day when Switzerland’s May CPI missed forecasts at 0.6% y/y versus 0.8% expected, keeping SNB rate-cut odds alive. The 336,000 jobs print versus 170,000 consensus lifted the DXY more than 0.5% and trimmed near-term Fed easing bets, pushing the pair from around 0.9080 higher. Markets now price the SNB policy rate at 0% through year-end with only a 40% chance of a June cut.