Swiss Franc pares losses near 0.7880 despite weak employment data and rising oil prices amid heightened Middle East tensions.
The Swiss Franc trimmed earlier losses against the US Dollar, trading just below 0.7880 after failing to break 0.7900 in Asian trading. The pair remains positive for a third consecutive day, supported by escalating geopolitical risks in the Middle East.
Swiss employment data showed a decline to 5,537 million in Q1 from 5,544 million in the previous quarter. Meanwhile, US-Iran tensions intensified after a second US military strike on Iranian territory and new sanctions targeting navigation in the Strait of Hormuz.
Markets await the US Personal Consumption Expenditures Price Index, the Federal Reserve’s preferred inflation gauge, expected to show rising price pressures in April.