USD/CHF hit fresh monthly lows as the knee-jerk reaction to the US nonfarm payrolls report, but quickly turned higher and reached new highs for the day.
US nonfarm payrolls showed the economy added only 151,000 new jobs in January, below the 190,000 expected and down from a revised 262,000 gain in December. However, wages rose and the unemployment rate fell below 5.0% for first time in 8 years to 4.9%.
USD/CHF dipped briefly below 0.9900 and hit a low of 0.9880, although the dollar managed to shrugged-off the low hiring level and strengthened across the board. USD/CHF peaked at 0.9965, and it was last trading around 0.9935, little changed on the day.
(Market News Provided by FXstreet)