Swiss Franc Soft amid Risk Appetite, Rising PPI Doesn’t Help

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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