The Swiss franc dropped today even amid risk aversion on the Forex market and signs of economic revival in Switzerland. One might argue that the currency made a big move on Tuesday and now just stabilizes.
Swiss employment demonstrated stable growth in the second quarter this year. The currency cap instituted by the Swiss National Bank attracted funds to Swiss companies. Yet the franc performed not as well as should under the circumstances. Perhaps, it is because the fact that the revival was caused by the currency ceiling means this measure stays for a long time, hurting the appeal of the Swissie.
USD/CHF rose from 0.9219 to 0.9313 and EUR/CHF advanced from 1.2295 to 1.2317 as of 14:56 GMT today.
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