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USD/CHF rises as Swiss retail sales miss expectations

The franc stays subdued after Swiss Real Retail Sales grew 1.5% year over year in June versus a 3.1% forecast.

Reported · Written up by our desk · Major Pairs

USD/CHF has turned higher after two sessions of losses, trading around 0.8070 during Friday’s Asian hours, as the Swiss franc remains under pressure following weaker Swiss Real Retail Sales data, according to FXStreet.

Swiss Real Retail Sales rose 1.5% year over year in June, missing expectations for 3.1% growth, which was revised from 3.2%. The prior growth rate was revised to 3.4% from 3.5%.

FXStreet also noted that strategists at BNY Mellon said the franc “met further resistance” as they expect the Swiss National Bank to keep policy unchanged for an extended period. They added that while rising global yields have supported the franc’s role as a funding currency, valuations now suggest potential for recovery.

On the US side, the dollar firmed as sentiment leaned hawkish on the Federal Reserve outlook, alongside developments linked to the Middle East, though FXStreet said safe haven demand could ease if global risk aversion declines.

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