USD/CHF gains fresh weekly highs, consolidates near 0.9000 major level

• USD/CHF extends the gains for the fourth consecutive day ahead of US Core PCE.
• US Dollar could gain ground with the potential as US Treasury yields rebound.
• USD bulls could face a challenge as the policy rates are expected to remain consistent in the upcoming FOMC meeting.

USD/CHF continues the winning streak that began on Tuesday, gaining fresh weekly highs near 0.9000 during the Asian session on Friday. The US Dollar (USD) struggles to move upward, with the potential for support as US Treasury yields rebound following losses from the previous day. The yield on 10-year US bonds trades at 4.87% by the press time.

Downbeat ZEW Survey Expectations could lead the Swiss Franc (CHF) to a bumpy ride as Switzerland's business conditions and labor market showed a decline of 37.8 from the previous 27.6 decline in October.

Furthermore, the USD/CHF pair might receive a boost from the positive momentum generated by the upbeat US preliminary Gross Domestic Product (GDP) Annualized data released on Thursday.

However, the report also revealed a preliminary core Personal Consumption Expenditure (PCE) index that fell below expectations, leading to heightened demand for US bonds.

US GDP grew to 4.9% in the third quarter from the previous growth of 2.1%, exceeding the 4.2% expectations. While US Core PCE declined to 2.4% in Q3 from the 3.7% recorded previously.

The bulls of USD/CHF pair could face a challenge as the policy rates are expected to remain consistent in the upcoming Federal Open Market Committee (FOMC) meeting next week. Additionally, Friday will see the release of the core Personal Consumption Expenditure (PCE) data later in the North American session, a crucial gauge of inflation in the US.