Swiss Franc Bounces on Risk Aversion, Unable to Beat EUR & JPY

The Swiss franc was falling today following the release of domestic macroeconomic data. The currency managed to reverse losses later thanks to risk aversion caused by announcement of import tariffs by the United States. The Swissie could not overcome the euro and the Japanese yen, though.

Swiss gross domestic product rose 0.6% in the fourth quarter of the last year, meeting expectations. Retail sales dropped 1.4% in January from a year ago. That is compared to the forecast increase by 1.1% and the previous month’s advance by 0.7%.

USD/CHF fell from 0.9443 to 0.9415 as of 22:09 GMT today, retreating from the daily high of 0.9490. EUR/CHF rallied from 1.1515 to 1.1551.

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