US Dollar Climbs as Swiss Franc Slips Amid Mixed Economic Data

The US Dollar (USD) is making a comeback, snapping a two-day losing streak and climbing to a fresh year-to-date high. The Swiss Franc (CHF), meanwhile, is slipping as the Greenback gains strength. The USD/CHF pair is trading around 0.8316, down from last week’s peak of 0.8382, which was the highest level since May 2025.

The Euro (EUR) is under heavy selling pressure due to concerns over France’s public finances and political gridlock. EUR/USD is trading around 1.1189, having earlier fallen to 1.1161, its lowest level in over a year. The US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, is holding near 102.32 after touching 102.53.

Fresh business activity data released on Monday showed that the US economy remains resilient. The final S&P Global Services Purchasing Managers’ Index (PMI) was revised slightly higher to 58.8 in September from the preliminary reading of 58.7. The ISM Services PMI eased to 54.9 from 55.4, slightly below the market forecast of 55. Both surveys remain comfortably above the 50 mark separating expansion from contraction.

The figures follow last week’s weaker-than-expected US Nonfarm Payrolls (NFP) report. Traders now price in only around a 20% chance that the US central bank will raise interest rates at its October 27-28 meeting, down from nearly 70% a week ago. However, persistent inflation risks keep expectations of a rate hike later this year alive.