FXstreet.com (Barcelona) - Brown Brothers Harriman analysts note that the Swiss Franc has been put under a lot of pressure recently.
They explain, “Against the euro it is trading near the weaker end of its 4-month range. Yesterday's losses were extended following the soft CPI figures. December CPI fell 0.2% after a 0.3% decline in November. The consensus called for an unchanged reading. News yesterday that another domestic bank is considering charging for franc deposits was seen as a catalyst to get the ball rolling. Few currencies were able to keep pace with the euro yesterday and the franc was not one of them.”
They explain, “Against the euro it is trading near the weaker end of its 4-month range. Yesterday's losses were extended following the soft CPI figures. December CPI fell 0.2% after a 0.3% decline in November. The consensus called for an unchanged reading. News yesterday that another domestic bank is considering charging for franc deposits was seen as a catalyst to get the ball rolling. Few currencies were able to keep pace with the euro yesterday and the franc was not one of them.”
