Franc Drops as China’s Manufacturing Curbs Demand for Safety

The Swiss franc declined today as the stocks gained and the Chinese manufacturing expanded, curbing the demand for the safer currencies.
The franc also dropped after the report showed that China’s Purchasing Managers’ Index rose from 53.8 to 54.7 in October. The MSCI World Index gained 0.3 percent and the Stoxx Europe 600 Index went up 0.5 percent. The reports from Switzerland itself weren’t so encouraging.
USD/CHF rose from 0.9826 to 0.9881 as of 10:59 GMT, while EUR/CHF traded at 1.3777 after opening at 1.3726.

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