Swiss franc slides further against dollar

Swiss franc retreats further on currency market against US dollar Keystone

The Swiss franc has retreated further against the dollar, following the release of solid economic growth figures in the United States.

This content was published on July 31, 2000 - 09:48

On Monday, the dollar pushed through the SFr1.6760 level, after reaching a high of SFr1.6740 on Friday.

The US second quarter GDP numbers upset hopes that the economic tide might be turning in Europe's favour. American economic growth is still outpacing that of Europe, causing the euro and the Swiss franc to remain low against the dollar.

The US growth numbers also dashed hopes that there would be no more increases in US interest rates - higher US rates have been keeping the dollar stronger. Friday's data has now revived hopes that the US Federal Reserve Bank might increase US interest rates at its next meeting on August 22.

On the Swiss domestic front, the focus is now on the Swiss consumer price index, out this Thursday. The numbers are expected to show a year-on-year rate up two per cent, which would match the Swiss National Bank's ceiling rate.

swissinfo with agencies

This article was automatically imported from our old content management system. If you see any display errors, please let us know:

In compliance with the JTI standards

In compliance with the JTI standards

More: SWI certified by the Journalism Trust Initiative

Contributions under this article have been turned off. You can find an overview of ongoing debates with our journalists here. Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at

Share this story

Change your password

Do you really want to delete your profile?