Swiss Franc weakens ahead of Q1 GDP data release
The post Swiss Franc weakens ahead of Q1 GDP data release appeared on BitcoinEthereumNews.com. USD/CHF gains ground after two days of losses, trading around 0.7830 during the Asian hours on Monday. The pair gains ground as the Swiss Franc (CHF) weakens ahead of the release of key economic data including, Swiss Real Retail Sales for April, Q1 Gross Domestic Product, and May’s SVME – Purchasing Managers’ Index (PMI). Traders will shift their focus on the Institute for Supply Management’s (ISM) Manufacturing PMI, which provides a reliable outlook on the state of the US manufacturing sector. The USD/CHF pair appreciates as the US Dollar (USD) maintains its strength on increased safe-haven demand, driven by market participants closely assessing the highly fluid developments surrounding United States (US)-Iran peace negotiations. US President Donald Trump seeks to alter and reinforce several key terms of the proposal aimed at ending the US-Israel war on Iran. According to the BBC, these requ