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Positive Market Sentiment Does Not Prevent Rally of Swiss Franc

December 3, 2018 at 17:30 by Vladimir Vyun

10, 20, 50 and 100 Swiss franc banknotesThe Swiss franc gained today even though the market sentiment was favorable to riskier currencies, not the safer ones. Domestic macroeconomic data was positive but did not seem to play a part in the currency’s rally.

The Swiss manufacturing Purchasing Managers’ Index rose from 57.4 to 57.7 in November. Analysts had predicted a decline to 56.3. Retail sales climbed 0.8% in October from the previous year, while the median forecast had promised a drop by 0.7%.

USD/CHF declined from 0.9989 to 0.9976 as of 17:19 GMT today. CHF/JPY edged up from 113.72 to 113.83.

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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