Swiss Franc Rises on Robust GDP Growth

The Swiss franc gained against most of its major rivals today, boosted by risk aversion and the better-than-expected GDP print.
The Swiss Federal Statistics Office reported that gross domestic product grew 0.7% in the second quarter of this year following the 1.0% growth in the first quarter (revised, 0.6% before the revision). Experts had predicted a slower rate of growth — 0.5%. The report stated that the expansion was “at an above-average rate for the fifth quarter in a row.”
USD/CHF dropped from 0.9713 to 0.9689 as of 13:18 GMT today. EUR/CHF declined from 1.1297 to 1.1272.

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

Leave a Reply

Your email address will not be published. Required fields are marked *