• USD/CHF finds buying interest near 0.8500 amid a marginal recovery in the US Dollar.
• Lower revision of US Nonfarm Payrolls has exhibited concerns over labor market strength.
• Investors keenly await Fed Powell’s speech at the Jackson Hole Symposium.

The USD/CHF pair discovers buying interest near the psychological support of 0.8500 in Thursday’s European session. The Swiss Franc asset rebounds as the US Dollar (USD) edges higher after posting a fresh 2024 low. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, finds a cushion after refreshing a more-than-seven-month low near 101.00.

Market sentiment favors risky assets as the Federal Reserve (Fed) looks set to start reducing interest rates in September. S&P 500 futures have posted nominal gains in European trading hours.

Market speculation for Fed interest rate cuts in September has strengthened as officials see them as appropriate. The confidence of Fed policymakers for unwinding the restrictive monetary policy stance has increased due to consistently easing price pressures and cooling labor market strength, according to the Federal Open Market Committee (FOMC) minutes for the July 30-31 policy meeting.