Swiss Franc Strong After Inflation Beats Expectations

The Swiss franc was strong during today’s subdued trading. Domestic inflation data released over the trading session was supportive to the currency.
Switzerland’s Federal Statistical Office reported that the consumer price index was stable in June compared with the previous month after rising 0.3% in the previous month. Despite the slowdown, the actual reading was better than a drop by 0.1% predicted by analysts. Year-over-year, the index rose 0.6%.
USD/CHF dropped from 0.9865 to 0.9851 as of 12:08 GMT today. EUR/CHF slipped from 1.1125 to 1.1120, retreating from the daily high of 1.1138.

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