Swiss CPI climbs
Inflation levels in Switzerland have risen by 0.2%, unchanged from the previous month, with the annual rate running at -1%. The Swiss franc declined against the euro following the announcement, as the figures were seen as positive for the Swiss economy.
Deflation is becoming an increasing threat in the eurozone, with a falling consumer prices already recorded in Germany, Spain and Ireland. This caused a spike in the euro exchange rate against the Swiss franc as closed markets in the US ensure that thin trading exacerbates volatility.
The EUR-CHF exchange rate is currently at 1.5225.
The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.