USD/CHF holds its losses for the fourth successive session following the Swiss Consumer Price Index (CPI) data released on Friday.
USD/CHF extends its losing streak following the release of Swiss Consumer Price Index data on Friday. Swiss CPI rose by 1.3% as expected to be consistent in July. The US Dollar loses ground ahead of employment data including Nonfarm Payrolls and Average Hourly Earnings. USD/CHF holds its losses for the fourth successive session following the Swiss Consumer Price Index data released on Friday. Swiss Federal Statistical Office declined by 0.2% month-over-month in July, as expected.
The peg was abruptly removed, resulting in a more than 20% increase in the Franc’s value, causing a turmoil in markets. Even though the peg isn’t in force anymore, CHF fortunes tend to be highly correlated with the Euro ones due to the high dependency of the Swiss economy on the neighboring Eurozone. Why is the Swiss Franc considered a safe-haven currency? The Swiss Franc is considered a safe-haven asset, or a currency that investors tend to buy in times of market stress.
Majors Macroeconomics Switzerland
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/CHF weakens below 0.9050 ahead of Swiss CPI dataThe USD/CHF pair trades with mild losses near 0.9015 during the early Asian trading hours on Thursday.
Read more »
USD/CHF appreciates toward 0.9050 due to slowdown in Swiss inflationThe USD/CHF recovers recent losses, trading around 0.9030 during the early European hours on Thursday.
Read more »
USD/CHF holds its ground after soft Swiss CPIIn Thursday's session, the USD/CHF pair slightly declined, with markets showing a less enthusiastic attitude towards the USD after weak data outcomes.
Read more »
Amazon Prime Day raises concerns over counterfeits and consumer safety, consumer group warnsA consumer watchdog warns Amazon Prime Day may not protect consumers from counterfeits and consumer safety.
Read more »
USD/CHF edges lower below 0.9000, US CPI data loomsThe USD/CHF pair trades with mild losses near 0.8995, snapping the three-day winning streak during the early European session on Thursday.
Read more »
USD/CHF weakens below 0.9000 ahead of US PPI dataThe USD/CHF pair trades on a weaker note around 0.8960 during the early European session on Friday.
Read more »