CHF/JPY — News Archive

The Japanese yen was the weakest major currency on the Forex market today as traders did not feel a need for safety, dumping the currency. Surprisingly, the Swiss franc avoided a similar fate despite also being considered a safe-haven currency.

The Swiss franc was the strongest currency on the Forex market today, rising against all other most-traded rivals. That was a very puzzling performance, considering that news neither from Switzerland nor from abroad was positive for the currency.

The Japanese yen was the weakest major currency on the Forex market today, falling against all other most-traded rivals. Domestic macroeconomic data could not be the catalysts for the decline: it was not particularly good but not extremely terrible either. In fact, most of the reports beat expectations.

The Swiss franc logged gains versus a basket of currencies today, getting help from positive domestic macroeconomic reports. Economists do not expect tomorrow’s data to be good, though.

The Swiss franc was soft for the most part today, though it managed to log small gains versus the Australian dollar and the Japanese yen. Better-than-expected domestic macroeconomic data was unable to bolster the Swissie.

Risk appetite reined over markets at the start of the week, driving investors towards riskier currencies and away from safer ones. Surprisingly, the US dollar did not fare that poorly, but the Swiss franc was clearly a victim of the risk-on market sentiment. The only major currency that performed even worse than the Swissie was the Japanese yen.

The Swiss franc was either flat or lower against the majority of most-traded currencies today even though markets were under influence of uncertainty and risk aversion. Rather bad domestic macroeconomic data was not helping the currency of Switzerland at all.

The Japanese yen was trading either flat or lower against most other currencies, though it managed to gain on the US dollar. Japanese macroeconomic data released on Friday was mixed.

The Swiss National Bank made a monetary policy announcement today but markets paid little attention to it. Currently, the Swiss franc is the weakest currency on the Forex market, even losing its earlier gains versus the Australian and New Zealand dollars, which themselves were very weak. It looks like traders continue to prefer the US dollar as a refuge, ignoring other safe currencies, like the franc and the Japanese yen.

The Swiss franc fell against almost all of the most-traded currencies today despite the near-record jump of the KOF Economic Barometer. The Swissie managed to gain only against the currencies that were weak themselves, like the US dollar, dragged down by yesterday’s speech of Federal Reserve Chairman Jerome Powell, and the Canadian dollar, which suffered from a sharp economic downturn in Canada.