USD/CHF: Bears flex muscle after Jordan speech and weak US data

Bears remain in control of the USD/CHF pair after SNB’s Jordan hinted at a less possibility of further rate cuts, while the data in the US showed a drop in the manufacturing activity.

Trades below 100-DMA

The spot currently trades below its 100-DMA located at 0.9940 levels. The demand for CHF spiked after SNB’s Jordan said unconventional measures cannot be deployed endlessly to achieve desirable monetary conditions.