The Swiss franc fell versus the Japanese yen and was little changed against the US dollar following the release of unfavorable macroeconomic data.
The KOF Economic Barometer fell from 101.7 in July (revised up from 101.1) to 100.3 in August. The report explained the result:
The strongest contributions to this negative result come from manufacturing, followed by the indicators from the exporting sector. On the other hand, the indicators related to private consumption give a positive signal. The indicators from the financial and the construction sectors have remained practically unchanged.
The Swissie managed to gain against some commodity currencies as risk appetite was leaving markets.
USD/CHF traded at about 0.9708 as of 15:54 GMT today after opening at 0.9703 and touching the daily low of 0.9686, which was the lowest since April 19. CHF/JPY declined from 115.05 to 114.50, retreating from the daily high of 115.29 — the level not seen since February 16.
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