Fundamental OverviewThe USD weakened across the board since last Friday following the soft US NFP report. The data showed some more labour market cooling with an increase in the unemployment rate and a decrease in wage growth. We basically have an economy that is slowing but still growing. We will see if the market will be able to keep the positive sentiment on soft landing hopes or start to worry about a recession. The CHF, on the other hand, weakened a lot as the SNB cut rates by 25 bps at the last meeting bringing the policy rate to 1.25% and revising its inflation forecasts lower. The only thing bullish for the Swiss Franc was the line saying that the SNB “will be ready to intervene in F
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