The Swiss franc was relatively strong today, rising against such currencies as the US dollar and the euro, though not the Great Britain pound and the Japanese yen.
The fact that both the yen and the franc were strong today suggested that traders were seeking safety, not higher yields. As for fundamentals specific to the Swissie, there were none, with the Credit Suisse Economic Expectations due for release on Wednesday being the only economic release from Switzerland this week. The next week should be more eventful, with several reports, including retail sales and manufacturing data.
USD/CHF declined from 0.9946 to 0.9912 as of 11:36 GMT today. EUR/CHF fell from 1.1647 to 1.1615.
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