Swiss Franc Retreats vs. Euro, Gain on Other Majors

The Swiss franc gained on some of its major peers today, including the US dollar, but fell versus the euro as concerns about European politics receded.

As for news from Switzerland itself, the manufacturing Purchasing Managers’ Index released on Friday showed a drop from 63.6 to 62.4 in May, in line with market expectations. Several other reports are scheduled for the current week, including inflation data on Wednesday and the unemployment rate on Thursday.

USD/CHF fell from 0.9880 to 0.9849 as of 13:00 GMT today. At the same time, EUR/CHF rose from 1.1513 to 1.1539, touching the daily high of 1.1555.

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