World Economy

Swiss Economic Sentiment Improves

Swiss Economic Sentiment ImprovesSwiss Economic Sentiment Improves

The Swiss franc strengthened against most major currencies in the European session on Wednesday, after data showed that Swiss economic sentiment improved in June, Alliance News reported. Data from the Center for European Economic Research/ZEW in cooperation with Credit Suisse showed that the ZEW-CS-Indicator for the economic sentiment rose by 1.9 points to 19.4 in June. The index reached its highest level since February 2014. Economic expectations continued the upward trend witnessed in the second quarter of 2016. The indicator which reflects Switzerland’s current economic environment increased to 6.2 points in June. In the Asian trading today, the Swiss franc held steady against its major rivals. In European trading, the Swiss franc rose to 1.079 against the euro, 1.405 against the pound and 108.94 against the yen, from early lows of 1.083, 1.413 and 108.55, respectively. If the franc extends its uptrend, it is likely to find resistance around 1.06 against the euro, 1.35 against the pound and 112.00 against the yen.