The Swiss franc appreciated vis-Ã -vis the U.S. dollar today as the greenback tested bids around the CHF 1.0655 level and was capped around the CHF 1.0715 level. Data released in Switzerland today saw the June UBS consumption indicator improve to 0.96 in June from a revised 0.75 in May. These data suggest final private demand is improving despite rising unemployment. Recent data have revealed manufacturing weakened at its slowest pace in eight months in June and leading economic indicators recently improved for the second consecutive month. Germany is also benefiting from an improvement in German business confidence that reached a nine-month high this month. U.S. dollar offers are cited around the CHF 1.0910 level. The euro came off vis-Ã -vis the Swiss franc as the common currency tested bids around the CHF 1.5220 level while the British pound fell vis-Ã -vis the Swiss franc as sterling tested bids around the CHF 1.7600 figure.
Join the Discussion