Swiss Franc Under Pressure from Stock Markets’ Attempt to Rally

The Swiss franc was soft today as the attempt of stock markets to rally put pressure on safer currencies. The markets wobbled, though, amid trade tensions between the United States and China. Today’s decline followed Friday’s better-than-expected inflation data in Switzerland.
Released on Friday, a report from the Federal Statistical Office showed that the Consumer Price Index fell 0.2% in July from the previous month. While it was a worse reading than no change in June, the actual figure was better than a decline by 0.3% predicted by analysts. Year-on-year, the CPI rose 1.2%, within expectations.
USD/CHF climbed from 0.9938 to 0.9977 as of 10:58 GMT today, bouncing from the daily low of 0.9920. CHF/JPY fell from 111.90 to 111.71.

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