Friday’s publication by Switzerland of its KOF Economic Barometer revealed growing concerns about the future of the Alpine nation’s growth potential. The rising strength of the franc (CHF) has begun to worry many investors who see its meteoric rise as a sign of future trade gouging and GDP decline.
Today’s KOF report only served to underline this heightened tension. The figure was forecast to come in near a reading of 1.84, but fell from last month’s adjusted 1.98 reading to 1.61 over the past month. With the other safe haven currencies, the USD and JPY, meeting resistance from market tension and bank interventions, respectively, the Swiss franc still appears to be climbing despite this growing pessimism.
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