Swiss Franc Declines as Economic Barometer Falls Below Expectations

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 month’s 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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