Switzerland’s Inflation Stable, Swiss Franc Rebounds

The Swiss franc fell at the start of Tuesday’s session but has trimmed its losses by now. Furthermore, the Swissie managed to gain on the euro and the Great Britain pound, currencies that were very weak today. The domestic inflation report was better than expected, but it does not seem that the currency’s rebound was tied to economic data specifically.
Switzerland’s Federal Statistical Office reported that the Consumer Price Index was stable in August compared with the previous month. Analysts were expecting a small drop of 0.1%. The index fell by 0.5% in July.
USD/CHF was about unchanged at 0.9907 as of 10:52 GMT today. EUR/CHF declined from 1.0865 to 1.0834.

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