Swiss Franc Loses Gains Caused by Trade War Fears

The Swiss franc rose intraday during the current trading session on fears of trade wars, particularly between the United States and China, but has lost its gains by now.

With the USA announcing tariffs on China’s imports, fears grew that tensions between the world’s two biggest economies may escalate. Trade wars are not good for economy, therefore such fears drove investors towards safer assets, like the Swissie and the Japanese yen.

As for domestic fundamentals, there were no releases from Switzerland today. Next week, traders will watch the Credit Suisse Economic Expectations for Switzerland and the KOF Economic Barometer.

USD/CHF traded at 0.9473 as of 10:18 GMT today after opening 0.9488 and falling to the daily low 0.9445. EUR/CHF traded near its opening level of 1.1679 after falling to the session minimum of 1.1654.

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