The US dollar has dropped to its lowest level against the Swiss franc in 14 years, hitting CHF 0.78 yesterday.
Against the euro, the dollar is also at its weakest since 2021.
The franc continues to gain strength overall, with the euro nearing the CHF 0.93 mark.
Analysts point to interest rate differentials between the US and Europe as the main driver. Commerzbank notes the euro has strengthened for eight straight days. Markets are now awaiting a key US labour report tomorrow.
A strong result might not help the dollar if investors believe the Fed will cut rates regardless - raising concerns of political influence on US monetary policy.
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