Swiss Franc Declines as Consumption Indicator Ticks Down

The Swiss franc declined against the euro today as consumption indicators fell slightly last month. The report was not completely negative though as it said that the Christmas season had a good start for the retail sector. At the same time, the currency gained versus the dollar.
The UBS consumption indicator fell a bit from 1.32 to 1.29 points in November. The report said:

Fewer new car registrations are weighing on consumption, but on the positive side, Christmas retail business has apparently made a good start.

This week’s calendar is poor on economic indicators, and today’s report was the only one from Switzerland scheduled for this week.
USD/CHF fell from 0.9873 to 0.9861 as of 12:42 GMT today. Meanwhile, EUR/CHF rose from 1.2025 to 1.2029.

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