Swiss Franc Declines After GDP Unexpectedly Contracts

The Swiss franc dropped today as Switzerland’s economic growth halted unexpectedly. The currency did not react to the report immediately, moving largely sideways for some time, but declined sharply later.
Swiss gross domestic product fell 0.2% in the third quarter of 2018. That is instead of rising 0.4% as economists had predicted. GDP advanced 0.7% in the previous three months.
USD/CHF inched up from 0.9936 to 0.9944 as of 12:58 GMT today. EUR/CHF gained from 1.1298 to 1.1323.

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