The Swiss franc was soft today despite the risk-negative sentiment that should have supported the currency. Yet the worse-than-expected inflation data did not allow the currency to rally.
Switzerland’s Consumer Price Index rose 0.1% in September from the previous month compared to the consensus forecast of 0.2% growth. Year-on-year, consumer prices fell 0.2%. The worse-than-expected data prevented the Swissie from gaining on risk aversion that was driving riskier currencies down and should have been supportive for safe currencies, like the franc.
USD/CHF rose from 0.9739 to 0.9773 as of 9:34 GMT today. EUR/CHF advanced from 1.0914 to 1.0933.
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