The Swiss franc advanced versus the US dollar and the Japanese yen, but fell against the euro. Economic reports from Switzerland were mixed, not helping the currency to choose direction.
Retail sales grew 3.3 percent in April, year-on-year. It was above the predicted increase of 2.5 percent and much better reading that the March’s drop by 0.8 percent. As for the bad news, the unemployment rate increase by 0.1 percentage point to 3.1 percent. It was not a surprise for traders.
Poor macroeconomic data from China helped the franc. Yet the euro managed to outperform the currency yesterday and continued to rise today.
USD/CHF was down from 0.9364 to 0.9332 yesterday and traded at 0.9340 as of 1:21 GMT today. CHF/JPY went up from 104.37 to 105.85 before trading at 105.69. EUR/CHF rose from 1.2368 to 1.2381 after advancing from 1.2354 to 1.2369.
If you have any questions, comments or opinions regarding the Swiss Franc,
feel free to post them using the commentary form below.
Be First to Comment