The Swiss franc went down today as China’s trade surplus was above $20 billion for the third consecutive month, easing the concerns that the global recovery losing momentum and reducing the demand for the safer assets.
China’s exports expanded 34.4 percent and inbound shipments rose more than predicted to 35.2 percent in August. The resulting trade surplus was $20.03 billion, while forecasts promised $26.9 billion. At the same time in the previous year the surplus was $15.7 billion.
USD/CHF rose to 1.0237 from it opening level of 1.0149 as of 9:42 GMT today.
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