The Swiss franc is heading to the parity with the US dollar as the pace of Switzerland’s economic growth was faster than the economists estimated. The currency also gained against the euro.
The Swiss gross domestic product grew by 0.9 percent in the second quarter of this year, following the 1.0 percent advance in the previous quarter. The median estimate was the 0.8 percent growth. Now, as the threat of the deflation considered being gone and the Swiss National Bank is unlikely to intervene, the talks emerge about the possible franc’s parity with the dollar.
USD/CHF dropped from 1.0156 to 1.0115 today as of 11:26 GMT. EUR/CHF declined from 1.3008 to 1.2980.
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