The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.0865 level and was capped around the CHF 1.1085 level. Data released in Switzerland today saw December inflation ease, off 0.5% m/m with the annual rate lower at 0.7% from 1.5% in November. This annual inflation rate represents the lowest since September 2007. Also, the percentage of unemployed Swiss workers grew in December to 3.0% from 2.7% in November, near a two-year high. U.S. dollar offers are cited around the CHF 1.1330 level. The euro moved lower vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.4935 level while the British pound gained ground vis-à-vis the Swiss franc as sterling tested offers around the CHF 1.6825 level.
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