The USD/CHF pair is currently trading near its highest level since November 11, showing signs of bullish momentum. The Swiss Franc (CHF) is being weakened by the Swiss National Bank’s decision to cut interest rates in March, while the US Dollar (USD) is supported by reduced expectations of rate cuts by the Federal Reserve (Fed). Recent data indicates a positive outlook for the US economy, with the manufacturing sector expanding and labor demand remaining strong. Market pricing suggests a lower rate cut by the Fed for 2024, which is in line with comments from influential FOMC members. Despite this, the USD may face some downward pressure due to risk-off sentiment favoring safe-haven assets like the CHF. Traders are keeping an eye on US macro data and FOMC speeches for further direction.