USD/CHF slumps to 2-week lows after NFP

USD/CHF lost more than a hundred pips in a matter of minutes as disappointing nonfarm payrolls numbers raised doubts over an imminent rate hike by the Fed this summer, hammering the US dollar.

USD/CHF fell sharply from levels above 0.9900 previous the release to a 2-week low of 0.9801 in recent dealings. The pair seems to have found interim support at the 0.98 mark and it is currently trading at 0.9807, down 0.97% on the day.

On the data front, US economy added 38,000 new jobs in May, well below expectations of 164,000 and marking its weakest reading in over 5 years.