• USD/CHF holds ground near its two-week high of 0.8983.
• US GDP Annualized (Q1) is expected to slightly increase by 1.4%, against the previous growth of 1.3%.
• The US Dollar may draw some support from the higher yields.

USD/CHF trades around 0.8980 during the European hours on Thursday, grappling to hold ground near its two-week high of 0.8983, recorded on Wednesday. Investors await the release of the US GDP Annualized (Q1) due later in the North American session. The report is expected to show a slight increase of 1.4% from the previous growth of 1.3%.

The US Dollar (USD) struggles possibly due to traders’ anticipation of Friday’s Core PCE Price Index inflation, projected to decrease year-over-year to 2.6% from the previous 2.8%. This data is seen as the Federal Reserve's (Fed) preferred inflation gauge. Market participants are likely to hope that signs of easing inflation will encourage the Federal Reserve (Fed) to consider rate cuts sooner rather than later.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against the six other major currencies, may draw support from the higher US Treasury yields. 2-year and 10-year yields stand at 4.75% and 4.33%, respectively, at the time of writing