The Swiss franc was largely unchanged on Wednesday as markets eyed Switzerland's leading KOF indicator for signs of continuing strong economic growth. The closely watched KOF business climate index, due at 0930 GMT, is expected at 1.83, according to the median of a Reuters poll, up from a previous 1.79.
"One does not have to be a rocket scientist to figure that the positive momentum across the Swiss economy remains fully in place," UBS analyst Reto Huenerwadel said. "Similar data releases make no case for a substantial slowdown of Swiss economic activities anytime soon."
By 0602 GMT the franc was 0.07 percent higher versus the euro at 1.6166 francs per euro and was 0.04 percent higher against the dollar at 1.2108 per dollar. The franc was down 0.44 percent against the Japanese currency, at 96.48 yen per franc.
The franc has come under pressure in recent months as investors have used the low-yielding currency to fund purchases of high-yielding assets in the carry trade.
Comments
Comments are closed.