The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.0070 level and was capped around the 1.0180 level. The pair is inching closer and closer to parity. Switzerland's Economiesuisse today predicted the Swiss economy will expand 0.7% in 2010 with unemployment rising to 4.9% and inflation printing around 0.7%. Swiss National Bank President Roth last week said the central bank has the instruments to reduce liquidity if needed and the markets know the central bank will react to inflation if it emerges. U.S. dollar offers are cited around the CHF 1.0270 level. The euro moved lower vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.5105 level while the British pound moved lower vis-à-vis the Swiss franc and tested bids around the CHF 1.6720 level.
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