The Swiss franc was extremely weak today despite the better-than-expected inflation data released in Switzerland over the current trading session.
The Swiss Federal Statistics Office reported that the Consumer Price Index rose 0.4% in May from the previous month, accelerating from April’s 0.2% and beating the median forecast of 0.3%. Year-on-year, the index was up 1.0%.
Some analysts said that the market sentiment was positive overnight, and that may explain the weakness of the Swissie, though it is strange to see optimism amid the threat of trade wars.
USD/CHF advanced from 0.9829 to 0.9881 as of 11:48 GMT today. EUR/CHF soared from 1.1533 to 1.1632.
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