Swiss franc yawns as Manufacturing PMI rises
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The Swiss franc is almost unchanged at the start of the week. In European trade, USD/CHF is trading at 0.9137, up 0.07%.
The US dollar posted strong gains on Friday. USD/CHF fell by 0.45%, its sharpest one-day loss in a month. The US currency received a boost as international investors bought up US Treasuries in month-end rebalancing flows.
Swiss Manufacturing PMI rises
The week started on a positive note, as Swiss Manufacturing PMI accelerated for a six straight month, rising from 66.3 to 69.5 points. A recovery in the global economy has resulted in increased demand for Swiss exports. A reading over the 50-level points to growth, and manufacturing continues to show significant expansion.