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Swiss franc continues to drift May 26, 2021SharePrint The Swiss franc is down slightly on Wednesday. In the North American session, USD/CHF is trading at 0.8964, up 0.14%. Will Swiss franc stay below 90 level? The US dollar has been struggling in recent weeks and the major currencies continue to make inroads against the greenback. The Swiss franc has soared since April 1, with USD/CHF falling 4.96 per cent in that period. The pair broke below the symbolic 90-level last week and touched a low of 0.8930 on Wednesday, its lowest level since mid-February. Policymakers of the Swiss National Bank are undoubtedly concerned with the sharp appreciation of the Swiss franc. A key role of the central bank is to curb the Swiss franc’s value in order to keep Swiss exports competitive. This involves significant purchases of US dollars, to such an extent that the US Treasury Department labeled Switzerland a currency manipulator in 2o20. With the US dollar showing prolonged w ....
Swissie falls as dollar punches above 91 March 1, 2021SharePrint The Swiss franc has started the trading week and the month of March in negative territory, as the currency’s downswing continues. USD/CHF is currently trading at 0.9141, up 0.63% on the day. Swiss franc falls to 4-month low The Swiss franc remains in a prolonged downswing against the US dollar. The Swissie has lost 3.6% of its value so far this year, and the currency fell 2.1% in February, its worst month since April 2019. Although Covid-19 remains a significant problem, investors are encouraged by the significant progress of the vaccine rollouts. Global economic growth is expected to recover in 2021, and risk sentiment for investors has risen considerably since the dark days of 2020, when Covid was running rampant, practically unchallenged. This has made the Swiss franc, a reliable safe-haven asset, less attractive to investors willing to take on risk. ....
Swissie yawns as KoF barometer slides January 29, 2021SharePrint The Swiss franc has been relatively quiet in the second half of January. USD/CHF is almost unchanged on Friday, trading at 0.8880. KOF Economic Barometer slides below 100 The KoF Economic Barometer, a key indicator of business confidence, has started the new year in very poor form. The index fell to 96.5 in January, down sharply from 104.3 in the previous release. The soft reading caught the markets by surprise, as the consensus estimate stood at 102.2. The KOF barometer has dropped below its long-term average of 100 for the first time since July. The sharp decline can be attributed to a resurgence in Covid, which has led to weaker conditions in the manufacturing and services sectors. The Swiss central bank (SNB) would love nothing more than the Swiss franc to depreciate, as the Swissie surged in H2 of 2020. Unfortunately for bank policymakers, investors have shrugged off the gloomy economic news and ....
12/30/2020 1:32:29 PM GMT The Swiss franc has taken a pause from this week’s rally. Currently, USD/CHF is trading at 0.8847, up 0.08% on the day. USD/CHF is in positive territory this week, and dipped to a low of 0.8815 earlier on Wednesday. This marked the currency’s lowest level since May 2014. This news will not provide any holiday cheer for policymakers at the Swiss National Bank. For months, the bank has tried to stem the appreciation of the Swiss franc in order to maintain price stability, but investors remained attracted to the safe-haven Swissie as the financial markets remain vulnerable to the detrimental effects of Covid-19. The SNB has kept interest rates at -0.75%, among the lowest in the world. In addition, the SNB continues to buy up billions of dollars, to such an extent that the US Treasury recently labeled Switzerland a currency manipulator. The Swiss franc has gained 2.70% in December, and with the US expected to implement further stimulus in early 2021, ....
Swiss franc rises on strong Swiss KOF December 30, 2020SharePrint The Swiss franc has taken a pause from this week’s rally. Currently, USD/CHF is trading at 0.8847, up 0.08% on the day. USD/CHF is in positive territory this week, and dipped to a low of 0.8815 earlier on Wednesday. This marked the currency’s lowest level since May 2014. This news will not provide any holiday cheer for policymakers at the Swiss National Bank. For months, the bank has tried to stem the appreciation of the Swiss franc in order to maintain price stability, but investors remained attracted to the safe-haven Swissie as the financial markets remain vulnerable to the detrimental effects of Covid-19. The SNB has kept interest rates at -0.75%, among the lowest in the world. In addition, the SNB continues to buy up billions of dollars, to such an extent that the US Treasury recently labeled Switzerland a currency manipulator. The Swiss franc has gained 2.70% in December, and with the US expected ....