Swiss Inflation Misses Expectations, Franc Unfazed

Switzerland’s inflation missed economists’ forecasts, yet this did not prevent the Swiss franc from extending its rally against other majors, including the US dollar and the euro.
The Swiss Consumer Price Index rose 0.1% in May from the previous month. That is compared to the average forecast of 0.2% and the April’s 0.3% increase. The underwhelming data did not prevent the Swissie from rising for the third consecutive day against the euro and for the fourth day in a row versus the dollar.
USD/CHF dropped from 0.9651 to 0.9587 as of 18:05 GMT today, trading near the lowest level since May 5. EUR/CHF fell from 1.0961 to 1.0929, touching the lowest since April 20.

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