Switzerland published its gross domestic product (GDP) this morning and put on display a sluggish figure for growth. Expectations were for a 0.6% uptick in GDP, but this morning’s 0.3% figure had the harsh effect of pushing down on the Swiss franc (CHF) and weighing on the country’s finances.
The Swissie bounced off its recent high against the USD and is beginning to flatten out, and against the EUR and GBP the currency remains weaker. Traders may look to continue shorting the CHF this week if other data doesn’t come relieve some of this new pressure.
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