FXStreet
Swiss Franc drops to fresh 16-month lows as CPI data supports SNB's dovishness | FXStreet
xCruzo Brief
The Swiss franc extended its decline as the USD strengthened, with USD/CHF hitting a fresh 16-month high above 0.8380 and set to complete a six-week rally. The move was tied to Swiss inflation data that supported a more dovish stance from the Swiss National Bank, letting it keep rates low for longer. Swiss CPI accelerated to 1% year-over-year in September from 0.8% in August, while the monthly figure eased to 0% from 0.4%. Retail sales rose to 3.2% year-over-year in August. Meanwhile, US Treasury yields pushed higher, with the 10-year note above 5.30% and the 30-year around 5.65. Uncertainty linked to the Middle East conflict also boosted energy-price expectations.
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