The Swiss franc was flat against most major currencies, with the exception of the Japanese yen, after the release of a trade balance report in Switzerland today. Risk aversion helped the Swissie to gain on commodity currencies.
Switzerland’s Federal Statistical Office reported that the trade balance surplus shrank to CHF 1.39 billion in January from CHF 1.76 billion in December, demonstrating the smallest surplus since September. The report was not necessarily bad, though, as both imports and exports rose, it is just that imports were rising faster than exports. Exports rose 1.1% from the previous month, while imports climbed 3.4%.
USD/CHF traded at about 1.0041 as of 11:01 GMT today, close to its opening of 1.0040, after rallying to the high of 1.0057 earlier. AUD/CHF dropped from 0.7156 to 0.7141 following the earlier rally to 0.7176.
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Swiss Franc Flat vs. Majors, Gains on Yen & Commodity Currencies
