USDCHF Hovers Around Six-Month High

Published on Sep 28, 2023 15:59

Swiss Franc is trading around a six month low against the dollar on Thursday as greenback gained impetus on the back of improving data from the US. Commerce Department said US durable goods orders rebounded by 0.2 percent in August after plunging by a revised 5.6 percent in July. Meanwhile, Switzerland`s economy is expected to grow by 1.3% this year, the government during the week, significantly below the country`s long-term average as industry struggles with weak demand abroad. The State Secretariat for Economic Affairs (SECO) also cut its growth forecast for 2024 to 1.2% from the 1.5% expectation it gave in June. USDCHF is currently trading at 0.9171, down half a percent on the day after hitting 0.9211 this week, its highest level since March this year.