Prompted by the positive macroeconomic news, the Swiss franc managed to rise to a new record high against the US dollar and to grow against other major currencies today.
The Swiss currency benefited from today’s leading economic indicator (KOF Economic Barometer) release that showed that its value rose unexpectedly in April. The report shows a growth from 2.25 to 2.29. Not only it’s above the expected 2.20 value, it’s also the highest reading of this indicator since August 2006.
The franc traded near 30-month high against the Japanese yen and appreciated significantly against the euro today. The currency also performed well against the British pound, which is also trading on a bullish side today. Against the US dollar, the franc set its new record high level for the fifth time in April.
USD/CHF fell from 0.8736 to 0.8642 as of 18:11 GMT today; the currency pair’s record low was set at 0.8638 earlier. EUR/CHF declined from 1.2950 to 1.2828, while CHF/JPY went up from 93.33 to 93.87.
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