Swiss Franc Boosted by Surge of Inflation

The Swiss franc jumped against 14 of 16 most-traded currencies after the report showed that the rate of inflation growth in Switzerland unexpectedly increased in March.

The Federal Statistical Office reported the consumer prices grew 0.6 percent in March instead of expected 0.2 percent, following the advance by 0.4 percent in February. The report by SECO on April 8 is expected to show that the unemployment rate in Switzerland decrease slightly. Swiss National Bank board member
Jean-Pierre Danthine said that an interest rates hike by the European Central Bank could provide a leeway for Switzerland in planning its own policy.

The Swiss currency gained most against the Japanese yen. The franc rallied 1.7 percent against the yen on the previous trading session.

CHF/JPY traded at 93.03 today as of 00:10 GMT after it surged yesterday from 91.70 to 93.26, the highest intraday price since October 2008. USD/CHF declined from 0.9251 to 0.9187 before trading at 0.9184 today.

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