Swiss Franc Gains After Inflation Report

The Swiss franc gained on its most-trade rivals, though not on the US dollar, today after the release of a good inflation print.

The Federal Statistical Office reported that the Swiss Consumer Price Index rose 0.4% in March, the same as in February. Analysts had predicted a slower growth by 0.2%. The report said:

 

Various factors contributed to the 0.4% rise compared with the previous month, such as an increase in the price of international package holidays, air transport and hotel accommodation. However, prices fell for medicines and fuel.

USD/CHF rose from 0.9607 to 0.9635 as of 14:45 GMT today, trading near the highest level since January 22. At the same time, EUR/CHF slid from 1.1796 to 1.1786, retreating from the daily high of 1.1805.

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