The Swiss franc’s performance was not impressive today despite the widening trade balance surplus. The Swissie fell against the US dollar and was little changed against most other rivals.
The Federal Statistical Office reported that Switzerland’s trade surplus widened from CHF 2.76 billion to CHF 3.51 billion in July. That was above the median forecast of CHF 2.88 billion. But it looks like market participants were less interested in safe currencies today than they were yesterday, preferring just to wait for the Jackson Hole Symposium before making any significant investments.
USD/CHF gained from 0.9617 to 0.9666 as of 12:37 GMT today. EUR/CHF was at about 1.1364, little changed from the opening level of 1.1360.
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