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Franc Remains in Downtrend as Fundamentals Do Not Change

May 8, 2013 at 1:15 by Vladimir Vyun

10, 20, 50 and 100 Swiss franc banknotesThe Swiss franc weakened today as the economic situation in Switzerland remained the same, giving the Swiss National Bank few reasons to drop the cap on the exchange rate.

Switzerland’s consumer sentiment remained little-changed at -5 in April. Investors have hoped for an improvement to -3. The unemployment rate stayed at 3.1 percent. It is likely that the SNB will keep the ceiling until fundamentals improve significantly.

USD/CHF rose from 0.9401 to 0.9409 and EUR/CHF went up from 1.2296 to 1.2303 as of 1:12 GMT today.

If you have any questions, comments or opinions regarding the Swiss Franc, feel free to post them using the commentary form below.

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