• The USD/CHF pair hits early June's highs but retreats back to 0.8990.
• USD bearishness comes in due to disappointing PCE data for May.
• The market odds for a September interest-rate cut by the Fed have slightly increased.

On Friday, the USD/CHF pair was unable to hold its momentum, depreciating due to soft Personal Consumption Expenditures (PCE) figures from May. Without any significant news or data coming from Switzerland, the pair has mainly been influenced by the US data as investors place their bets on the next Federal Reserve (Fed) movements.

The highlight of Friday was the disappointing PCE) data from the US in May. The PCE inflation edged lower on a yearly basis to 2.6% in May, in line with the market expectations, from 2.7% in April. On a monthly basis, the PCE Price Index remained unchanged in May. As a reaction, the soft data helped increase the probability of a September interest rate cut by the Fed to nearly 66%, according to the CME FedWatch tool.