The Swiss franc fell against the US dollar and the euro today. One of the possible reason for the drop was the increase of the unemployment rate.
The Swiss unemployment rate rose from 3.4% to 3.5% in April according to the State Secretariat for Economic Affairs. The news fueled speculations that the Swiss National Bank will continue attempts to weaken the franc. Yesterday, the Swiss Federal Statistical Office reported that monthly consumer inflation remained at 0.3% last month, the same as the month before, while forecasters had predicted a fall to 0.2%.
USD/CHF rose from 0.9710 to 0.9736 as of 14:50 GMT today. EUR/CHF climbed from 1.1052 to 1.1097.
If you have any questions, comments or opinions regarding the Swiss Franc,
feel free to post them using the commentary form below.