The Swiss franc gained against the euro today, but fell versus the US dollar. The macroeconomic data from Europe was bad today, weakening the shared European currency versus the Swiss currency. Yet fundamentals in Switzerland were not impressive either, limiting gains of the Swissie.
The franc has dropped versus the euro in the first half of September, but was continuously rising since the middle of the month, yet it is still far from the ceiling of 1.20 francs per euro. Against the greenback, the Swissie was moving in a range during September and October but was falling since the beginning of November. It is unlikely that the Swiss National Bank will lift the cap on the currency in the near future as the Swiss economy does not look healthy yet.
USD/CHF was up from 0.9480 to 0.9499 (the highest settlement since September 7) and EUR/CHF fell from 1.2049 to 1.2044 as of 10:52 GMT today.
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