After taking its safe-haven role CHF loses points against the euro
The Swiss franc had reached 1.12 in September driven by the Italian crisis. He had therefore played his role of safe haven to perfection but the situation has changed in recent weeks.
Indeed, the Swiss central bank (SNB) has published a downward revision of inflation in Switzerland which suggests that the SNB will not increase its interest rates anytime soon.
This information undeniably weighs on the currency which loses its interest for investors despite the very good results of the Swiss economy and this despite the various factors that put pressure on the euro (see article 03/10). The CHF thus weakened and the EURCHF price is 1.1430 this Friday.
The loss of attractiveness of the Swiss franc could therefore benefit other medium-term safe havens