The GBPCHF pair was higher on the day after a GDP estimate from the NIESR showed the British economy shrank 7.6% in the three months to July. The number was close to analyst expectations but followed a record 20.4% plunge from March to June. The highlight in the number was that the economy rose 6.6% percent in July after lockdowns were eased. In comparison, the Swiss economy fell 9.3% in the second quarter and the Swiss government expects the country’s economy to drop 5% annually, which is better than previously expected and unemployment is also expected to rebound at a faster pace than first thought. Other news for ... (full story)