The USD/CHF currency pair, which expresses the value of the U.S. dollar in terms of the Swiss franc, is conventionally associated with risk-on movements in global markets. This is owing to the Swiss franc's status as a safe haven currency, which is supported by Switzerland's relatively political stability and current account surpluses.
USD/CHF has been pushing lower recently on the back of somewhat tepid risk sentiment carrying over from recent equity and FX volatility. The chart below shows USD/CHF frankly struggling to break out in either direction sustainably.
(Chart created by the author using