The Swiss franc was soft today amid mild risk appetite on the Forex market. Market analysts speculated that traders were more willing to risk due to hopes for a Sino-US trade deal in the near future. Decent domestic macroeconomic data did not help the Swissie.
The Federal Statistical Office reported that the Producer Price Index rose 0.3% in March from the previous month. The report said that “higher prices for petroleum products” was the main contributor to the rise. Analysts had expected the same 0.2% rate of increase as in February.
USD/CHF gained from 1.0011 to 1.0029 as of 11:26 GMT today. EUR/CHF rallied from 1.1323 to 1.1344.
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