The market sentiment was still favoring riskier currencies over safer ones, and that reflected in the performance of the Swiss franc. The Swissie declined against commodity currencies while holding steady versus other rivals. The worse-than-expected domestic inflation data did not seem to have a material impact on the franc.
The Swiss franc is trading relatively flat against the US dollar in the middle of the trading week after the US government announced in a new report labeled Switzerland and Vietnam as currency manipulators. The move had been expected for quite some time as the central bank continually intervened in foreign exchange markets to limit the franc’s appreciation. Will this have dire consequences for bilateral relations?
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 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 is carving out a direction on Tuesday as investors brace for the 2020 US presidential election, comb through the latest inflation and manufacturing data, and determine if Switzerland can successfully mitigate COVID-19 without decimating the economy. With the world in the home stretch of a raucous 2020, can the conventional safe-haven asset continue its appreciation by year’s end?
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 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.
