Swiss franc finds some support after better ZEW data

Author: Mike Paterson | Category: News

We've seen some demand for CHF in the wake of the ZEW data out a short while ago

The reading produced by Credit Suisse came in at 16.6 for December vs 0.0 in November

CS said that a large majority of survey respondents rated the present state of Switzerland's economy as being "normal"

The survey ordinarily has minimal impact but traders are citing this, amongst today's fragile pre-FOMC conditions, as being a reason for the CHF demand

USDCHF currently 0.9893 from 0.9905 and EURCHF 1.0805 from 1.0820

Expect demand in the dips still with SNB very much on a close watch

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