Franc Remains in Downtrend as Fundamentals Do Not Change
The Swiss franc weakened today as the economic situation in Switzerland remained the same, giving the Swiss National Bank few reasons to drop the cap on the exchange rate.
Switzerland’s consumer sentiment remained little-changed at -5 in April. Investors have hoped for an improvement to -3. The unemployment rate stayed at 3.1 percent. It is likely that the SNB will keep the ceiling until fundamentals improve significantly.
USD/CHF rose from 0.9401 to 0.9409 and EUR/CHF went up from 1.2296 to 1.2303 as of 1:12 GMT today.
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Earlier News About the Swiss Franc:
- Swiss Franc Weak on Signs SNB Wants to Preserve Ceiling (2013-05-07)
- Swiss Franc Gains on Signs of Stabilizing Economy (2013-04-26)
- Swiss Franc Gains as Uncertainty Remains (2013-03-28)
- Swiss Franc Strong Even as SNB Maintains Ceiling (2013-03-14)
- Signs of Economic Growth Make Traders Part with Franc (2013-03-06)