May 7, 2021 07:36 GMTFXStreet News
USD/CHF defensive near 0.9070 in the early European session.
A softer US dollar prompts recent gains in the pair.
Swiss employment and US NFP eyed.
The USD/CAD pair seems vulnerable to the downside, as it holds onto the multi-month lows near 0.9070 in the early European session. The depreciative move in the greenback held responsible for the pair’s muted performance.
At the time of writing, USD/CAD is trading at 0.9073, up 0.04% on the day.
The US dollar index (DXY), which tracks the movement of the USD against its rivals, pauses the downward slide near 90.80 after tracking recent traction in US Treasury yields with gains of 0.44% on Friday ahead of the US Non Farm Payrolls Data (NFP).