The Swiss franc opened sharply higher against its major rivals today. While it fell from the opening level against some peers, the Swissie gained on others. Domestic macroeconomic data was negative to the currency.
Switzerland’s Federal Statistical Office reported that the Producer Price Index fell 0.5% in June from the previous month. Analysts had predicted an increase of 0.1%. The index was unchanged in May.
USD/CHF opened at 0.9829 today after closing at 0.9840 on Friday but rebounded to 0.9853 as of 17:54 GMT today. GBP/CHF closed at 1.2374 on Friday, opened at 1.2338 today, rallied to the daily high of 1.2358 intraday, but backed off to 1.2330 later.
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