Swiss franc drops on CPI data

The Swiss franc was lower Friday after consumer price inflation dropped there in August, minimizing expectations of an interest rate hike there in September, sending it 0.3 percent lower to SFr1.6470 versus the euro, down 0.5 percent to SFr2.4340 in relation to the pound and 0.6 percent lower to SFr1.2070 against the greenback.

Meanwhile, the Japanese yen ended both the session and the week higher after investors again abandoned carry trades.

The yen was up 0.2 percent on the day and 0.6 percent on the week to ¥115.70 versus the US dollar, while it gained 0.2 percent for the day and 0.8 percent this week to ¥157.60 in relation to the euro and added 0.1 percent on the session and 0.5 percent for the week to ¥233.50 against sterling.

The Australian dollar dropped more than 1 percent to both the dollar and the yen during the week, to $0.8150 and ¥94.20 respectively, while the New Zealand currency dropped 2.3 percent to $0.7020 versus the US dollar and fell 3.1 percent to ¥81.30 in relation to the yen.

The US dollar was mixed, falling 0.1 percent to $2.0170 against sterling but adding 0.3 percent to $1.3640 in relation to the euro.

Story link: Swiss franc drops on CPI data