The Swiss franc declined today following the release of underwhelming macroeconomic data. While the currency actually gained immediately after the release, the rally was short-lived, and the Swissie retreated afterwards.
The KOF Economic Barometer fell from 100.2 in October to 99.1 in November. Experts had predicted a smaller drop to 99.6. The report commented on the result:
This monthâs decline was in particular due to less favourable export prospects. The impetus from foreign demand is likely to weaken somewhat in the coming months.
USD/CHF gained from 0.9955 to 0.9986 as of 14:41 GMT today. CHF/JPY fell from 113.99 to 113.68.
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