The Swiss franc experienced a “flash crash” today, falling sharply at the start of the trading session but reversing losses almost immediately afterwards. The worse-than-expected drop of the Swiss Consumer Price Index had limited impact on the currency.
Switzerland’s Federal Statistical Office reported that the CPI fell 0.3% in January from the previous month, the same as in December. Analysts had expected a smaller decrease of 0.2%. Year-over-year, the index rose 0.6%.
USD/CHF traded at about 1.0038 as of 13:17 GMT today after opening at 1.0004 and surging to the high of 1.0098 at the start of Monday’s trading. CHF/JPY rebounded to 109.84 following the slump from 109.68 to 108.69.
If you have any questions, comments or opinions regarding the Swiss Franc,
feel free to post them using the commentary form below.
