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USD/CHF gained traction for the second straight day and climbed to fresh weekly tops The USD/CHF pair refreshed weekly tops during the early North American session, with bulls now looking to build on the momentum further beyond the key 0.9000 psychological mark. Following an intraday dip to the 0.8960 region, the pair caught some fresh bids and turned positive for the second consecutive session on Thursday. A strong rally in the US equity futures undermined the safe-haven Swiss franc, which, in turn, was seen as a key factor that provided a modest lift to the USD/CHF pair.

Separately, the second reading of the US GDP print matched initial estimates and showed that the economy expanded by 6.4% annualized pace during the January-March period. This, however, was slightly below the 6.5% anticipated, though was largely offset by data showing fewer than expected weekly jobless claims. Meanwhile, the risk-on flow triggered a sharp spike in the US Treasury bond yields, which helped to put a tentative floor under the greenback and extended some additional support to the USD/CHF pair. That said, it remains to be seen if the uptick is backed by any genuine buying or is solely led by some short-covering move.