USD/CHF Rises as Swiss GDP Misses Forecasts

The Swiss franc fell against the US dollar today as Switzerland’s gross domestic product missed economists’ expectations. Against other most-traded counterparts, the currency was either flat or higher.

Swiss GDP rose just 0.1% in the fourth quarter of 2016, the same as in the previous three months. Analysts had promised growth by about 0.5%. Retails sales dropped 1.4% in January from a year ago, though the drop was not as big as experts had predicted (2.0%).

USD/CHF climbed from 1.0097 to 1.0112 as of 11:25 GMT today. EUR/CHF was up from 1.0637 to 1.0648 intraday but pulled back to 1.0640 later.

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