The Swiss franc gained on its rivals, though not on the euro, thanks to data that revealed a favorable outlook for the Swiss economy.
The KOF Economic Barometer rose from 104.2 to 105.8 in September, exceeding the median forecast. The report commented on the result:
This indicates that the outlook remains favourable — the Swiss economy should continue to grow at above average rates in the near future.
The manufacturing sector was the biggest contributor to the improving outlook.
USD/CHF rallied from 0.9699 to 0.9720 intraday but retreated to 0.9694 as of 10:39 GMT today. Meanwhile, EUR/CHF was up from 1.1432 to 1.1446.
If you have any questions, comments or opinions regarding the Swiss Franc,
feel free to post them using the commentary form below.
