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Swiss Franc Declines as Economic Barometer Falls Below Expectations

November 30, 2018 at 14:51 by Vladimir Vyun

Swiss coins on franc notesThe Swiss franc declined today following the release of underwhelming macroeconomic data. While the currency actually gained immediately after the release, the rally was short-lived, and the Swissie retreated afterwards.

The KOF Economic Barometer fell from 100.2 in October to 99.1 in November. Experts had predicted a smaller drop to 99.6. The report commented on the result:

This month’s decline was in particular due to less favourable export prospects. The impetus from foreign demand is likely to weaken somewhat in the coming months.

USD/CHF gained from 0.9955 to 0.9986 as of 14:41 GMT today. CHF/JPY fell from 113.99 to 113.68.

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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