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Swiss Franc Gains After Release of Decent Economic Data

March 30, 2016 at 12:09 by Vladimir Vyun

Faces on the Swiss franc notesDecent economic data released from Switzerland over Wednesday allowed the Swiss franc to gain on the US dollar as well as on some other most-liquid currencies like the Japanese yen.

The UBS Consumption Indicator rose from 1.45 to 1.53 points in February, according to the report “indicating consistent, solid growth in private consumption.” The KOF Economic Barometer was almost unchanged in March even though economists promised a decline. The franc reacted positively to the reports, rising against its major rivals, even the firm yen.

USD/CHF dropped from 0.9965 to 0.9628 as of 12:06 GMT today. CHF/JPY went up from 116.52 to 116.71 after falling to 116.06 intraday.

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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