FX: Swiss producer price index falls more than expected
Forex Pros – Switzerland's producer price index fell more than expected in June, declining for the first time 4 months, official data showed on Tuesday.
In a report, the Swiss Federal Statistics Office said the producer and import price index fell 0.4% in June, after advancing 0.3% in May.
Analysts had expected the index to advance 0.2% in June.
The report attributed the drop to lower prices for petroleum, petroleum products and metal products.
Following the release of the data the Swiss franc was down against the U.S. dollar, with USD/CHF gaining 0.32% to hit 1.0642.
