USD/CHF holds losses near 0.7750 ahead of Swiss GDP data

USD/CHF edges lower after registering little gains in the previous session, trading around 0.7730 during the Asian hours on Friday. The pair declines as the Swiss Franc (CHF) gains on safe-haven demand amid renewed trade and geopolitical tensions. Investors await Switzerland’s Swiss Gross Domestic Product (GDP) data later in the session.

Tensions remain elevated after Iran said it would not allow enriched uranium to leave the country. A sizeable US military presence in the Middle East has kept markets cautious, with President Donald Trump warning of possible military action if no agreement is reached.

Iranian Foreign Minister Abbas Araqchi described Thursday’s talks as the most substantive so far, outlining Tehran’s demands for sanctions relief and a framework for lifting restrictions. However, a source familiar with the US position said American officials were dissatisfied. Negotiations will resume after consultations in both capitals, with technical-level meetings scheduled in Vienna next week.

The USD/CHF pair also weakens as the US Dollar struggles amid persistent uncertainty over US trade policy. Traders now look to the January PPI release for guidance on Federal Reserve policy.

Trump announced plans to impose a blanket 15% tariff on imports after a Supreme Court ruling struck down his earlier reciprocal tariff regime. Meanwhile, US Trade Representative Jamieson Greer said tariffs could be raised to 15% or higher for several countries in the coming days.