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Swiss franc dips as dollar holds near yearly high after mixed PMI

USD/CHF was around 0.8316, below last week’s 0.8382 peak, while the DXY held near 102.32 after revised and easing PMI readings.

Reported · Written up by our desk · Major Pairs

The Swiss franc weakened against the US dollar as USD/CHF edged higher, ending a two-day losing streak and pushing the greenback toward a fresh year-to-date high, according to FXStreet.

FXStreet said EUR weakness, tied to concerns about France’s public finances and political gridlock, helped lift the dollar, while USD/CHF traded around 0.8316, below last week’s peak of 0.8382, its highest level since May 2025. EUR/USD was around 1.1189 after dipping to 1.1161 earlier in the day, its lowest level in over a year.

The outlet also pointed to mixed US business activity data. It cited a slight upward revision to the S&P Global Services PMI to 58.8 in September from a preliminary 58.7, while the ISM Services PMI eased to 54.9 from 55.4, slightly below the market forecast of 55.

FXStreet added that expectations for another Fed interest rate hike in October were scaled back following softer-than-expected employment data, and noted the US Dollar Index held near 102.32 after touching 102.53.

Latest closeEUR/USD 1.126 ▼0.6%|Dollar index 101.92 ▼0.2%

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