The Swiss franc is weakening against the greenback on Thursday after the central bank warned that the trade war could rock the currency. A central bank official also encouraged investors to hold tight because a tighter monetary policy is still far away from being realized. That said, officials believe the franc remains highly valued in the global financial markets.
The Swiss franc climbed today, joining the Japanese yen in a rally, as risk aversion returned to markets. That brought safe currencies back in favor of market participants.
The euro rallied today but trimmed its gains against some rivals, including the Japanese yen and the Great Britain pound. The currency kept gains versus the US dollar and the Swiss franc, though.
The Swiss franc declined against its most-traded rivals today after Switzerland’s inflation missed expectations.
The euro edged up today after the better-than-expected German business climate print and rose further sharply following comments from European Central Bank President Mario Draghi. As of now, the currency has lost its gains versus the US dollar, trimmed them against the Japanese yen, but kept them against the Swiss franc.
The Swiss franc was extremely strong today, beating all of its most-traded rivals. That is surprising, considering that Switzerland’s economic calendar is empty today, and the currency had no factors to facilitate such good performance. Yesterday, the nation’s central bank made its policy announcement.
The Swiss franc rose against its most-traded peers today amid rising risk aversion on the Forex market.
The Swiss franc gained against most of its major rivals today, boosted by risk aversion and the better-than-expected GDP print.
The Swiss franc was relatively strong today, rising against such currencies as the US dollar and the euro, though not the Great Britain pound and the Japanese yen.
The Swiss franc is overvalued compared to the euro, but the nation and its businesses “can live with” the current exchange rate, says Ueli Maurer, Switzerland’s Finance Minister. The Swiss franc, which has gained more than 5% against the euro over the last 12 months, is dipping on Thursday after his remarks.
