The Swiss franc depreciated vis--vis the U.S. dollar today as the greenback tested offers around the CHF 1.0040 level and was supported around the CHF 0.9955 level. Data released in Switzerland today saw the UBS business cycle indicator indicate Q1 GDP growth of 3.7% y/y while Q2 economic growth is expected to decelerate to 3.0% y/y. U.S. dollar offers are cited around the CHF 1.0375 level. The euro moved higher vis--vis the Swiss franc as the single currency tested offers around the CHF 1.5850 level while the British pound came off vis--vis the Swiss franc and tested bids around the CHF 1.9605 level.
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