The Swiss franc fell from an intraday high against the U.S. dollar after Switzerland’s consumer price index came in below expectations, though the pair remained within its weekly range and stayed near the 0.8140 area, close to a one-year high.
According to Jin10, Switzerland’s June inflation slowed to 0% month on month from 0.2% in May, a larger deceleration than the market expectation of 0.1%. Year-on-year inflation also eased to 0.5% from 0.6% in May.
The data effectively confirmed expectations that the Swiss National Bank will keep its benchmark interest rate unchanged at the current 0% level for the rest of this year and possibly through 2027. As investors increased bets on U.S. Federal Reserve rate hikes, Switzerland’s low-rate stance was described as a headwind for any rebound in the Swiss franc.
Later today, market attention is set to shift to the U.S. nonfarm payrolls report, which is expected to show the U.S. economy added 110,000 jobs in June after strong employment growth over the prior three months. Investors are expected to assess the data through the lens of monetary policy for signals confirming a Fed rate hike in September. The report said the U.S. dollar faced greater upside risks.
Swiss Franc Pulls Back After Softer Swiss Inflation Data
2026-07-02 07:22:16
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
