The Swiss franc declined against its most-traded rivals today after Switzerland’s inflation missed expectations.
The Federal Statistical Office reported that the Swiss Consumer Price Index rose 0.1% in September month-on-month and 1.0% year-on-year. The monthly increase failed to meet market expectations of a 0.2% gain, but it was still a better reading than no change registered in August. The report commented on the result:
The 0.1% increase compared with the previous month can be explained by several factors including rising prices for clothing and fresh vegetables. In contrast, prices for international package holidays and air transport decreased.
USD/CHF rose from 0.9916 to 0.9937 as of 12:20 GMT today, touching the high of 0.9949. EUR/CHF advanced from 1.1417 to 1.1432.
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