The Swiss franc rose today on signs that Switzerland economy stabilized, giving hope that the Swiss National Bank will drop its cap on the currency sometime in the future.
The KOF Economic Barometer rose from 1.00 to 1.02 in April. Analysts have predicted that the index would fall to 0.98. The report said:
The stabilisation, that was already indicated last month, is thereby confirmed.
USD/CHF fell from 0.9446 to 0.9435 and EUR/CHF dropped from 1.2290 to 1.2272 as of 11:12 GMT today after rising to 1.2309 intraday.
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