Forex: USD/CHF hits 0.9592

on Jul 5, 2013
Listen Friday July 5th:_ The USD/CHF started today at 0.9580 with the franc continuing an uptrend from yesterday, when the ECB announced its decision to keep the cash rate unchanged at a record low 0.50 percent. So far in European trading the pair has risen to an intraday high at 0.9592, a gain of 0.12 percent.

Annualised and monthly readings of Switzerland’s CPI for June were released earlier today. On a monthly basis, consumer prices increased by 0.1 percent in June 2013, against expectations for a 0.1 percent fall. The annualised reading was of a 0.1 percent fall in June, as against May’s -0.5 percent.
It was separately reported that the Swiss National Bank held CHF434.851 billion in foreign currency at the end of June, against April’s CHF444.113 billion, revised up from the originally reported CHF441.410 billion.