Swiss Franc Depressed Near 13-Month Low Despite Brighter ZEW Outlook
The Swiss franc remains under pressure, trading near a 13-month low against the US dollar around 0.8200, even as the ZEW economic expectations index brightened. The USD/CHF pair is on track for a monthly gain of roughly 1.3%.
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The USD/CHF pair continues to hover just below the 0.8200 handle, near its highest level in 13 months, extending the dollar’s dominance over the franc.
The move came despite an improvement in Switzerland’s ZEW investor sentiment gauge, which typically would support the local currency. Instead, the franc’s weakness pushed the pair toward a 1.3% gain for the month.
Source: FXStreet Forex News