The Swiss franc is trading relatively flat against the US dollar to finish the trading week. The safe-haven asset, which has been one of the top-performing currencies in this year’s chaotic financial market, was struggling to find direction amid the latest producer and import prices and the central bank’s lack of enthusiasm over negative interest rates. Despite a bombardment of foreign exchange interventions, the franc continues to appreciate, frustrating policymakers.
The Swiss franc was mixed today following the release of an updated economic forecast from Switzerland’s government.
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.
The Swiss franc is rising to finish the trading week as the Swiss National Bank (SNB) announced that central banks are scaling back their US dollar liquidity operations. As foreign demand diminishes, central banks agreed that currency swap agreements were no longer necessary. Does this bode well for the greenback, or does it signal a decline ahead for the buck?
The Swiss franc continues to strengthen against many of its major currency rivals. At the end of the trading week, the franc is looking to touch levels against the US dollar unseen in seven years, despite the Swiss National Bank (SNB)‘s myriad of foreign exchange interventions. How much more can the franc appreciate this year?
The Swiss franc is extending its gains against many of its G10 currency competitors to finish the trading week. With the US dollar weakening and global economic uncertainty amid the coronavirus pandemic, investors continue to pour into the franc, much to the chagrin of a central bank doing everything it can to place a cap on its ascent.
The Swiss franc continues to strengthen against its most traded currency competitors to close out the trading week as the US Dollar Index slipped to a one-month low. The franc has been making gains on growing confidence in global financial markets, coronavirus vaccine hopes, and a weakening greenback. The franc is strengthening despite the central bank continuing to defend its currency interventions.
The Swiss franc is trading mixed to kick off the trading week as Switzerland’s economy attempts to be resuscitated in the aftermath of the COVID-19 pandemic. The Swiss franc is struggling for consistent direction against a myriad of currency rivals, with the central bank launching additional liquidity measures and Fitch maintaining its AAA rating of the Swiss economy.
The Swiss franc is back in the spotlight in the middle of the trading week as the central bank’s warning that it will keep up its fight against the currency’s appreciation concerned investors. As Switzerland’s economy is on track for the worst year in more than four decades, the near-term future of the nation remains uncertain. But with uncertainty prevalent throughout global financial markets, is the franc still the go-to safe-haven asset for investors?
